Banco Bradesco S.A. (NYSE:BBD) Sees Large Increase in Short Interest

Banco Bradesco S.A. (NYSE:BBDGet Free Report) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 30,560,000 shares, a growth of 21.3% from the April 30th total of 25,190,000 shares. Based on an average daily volume of 16,020,000 shares, the short-interest ratio is presently 1.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BBD. Fisher Asset Management LLC lifted its stake in shares of Banco Bradesco by 77.2% during the 4th quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock worth $242,441,000 after acquiring an additional 30,188,950 shares during the last quarter. Causeway Capital Management LLC lifted its position in Banco Bradesco by 43.4% during the 3rd quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank’s stock worth $182,605,000 after acquiring an additional 19,404,902 shares during the period. Wellington Management Group LLP boosted its position in Banco Bradesco by 14.1% in the fourth quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock valued at $211,783,000 after buying an additional 7,478,762 shares during the last quarter. Oaktree Capital Management LP raised its holdings in shares of Banco Bradesco by 8.2% during the fourth quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock worth $120,157,000 after purchasing an additional 2,588,418 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Banco Bradesco by 51.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank’s stock worth $112,715,000 after buying an additional 10,885,211 shares during the last quarter.

Wall Street Analyst Weigh In

BBD has been the subject of several research reports. The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price for the company in a research report on Tuesday, February 20th. Jefferies Financial Group downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

Check Out Our Latest Report on BBD

Banco Bradesco Stock Performance

BBD stock opened at $2.50 on Friday. The stock’s fifty day moving average price is $2.70 and its 200-day moving average price is $2.98. The company has a market cap of $26.65 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.26 and a beta of 0.96. Banco Bradesco has a 1 year low of $2.45 and a 1 year high of $3.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77.

Banco Bradesco (NYSE:BBDGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The bank reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Banco Bradesco had a return on equity of 9.55% and a net margin of 6.70%. The firm had revenue of $9.64 billion for the quarter. On average, equities analysts forecast that Banco Bradesco will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Wednesday, June 5th will be issued a $0.0037 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, June 5th. Banco Bradesco’s payout ratio is currently 13.04%.

About Banco Bradesco

(Get Free Report)

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.

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