Banco Bradesco SA (BBD) Sees Large Growth in Short Interest
Banco Bradesco SA (NYSE:BBD) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 31,678,206 shares, an increase of 96.7% from the May 15th total of 16,108,711 shares. Based on an average daily trading volume, of 20,808,037 shares, the short-interest ratio is presently 1.5 days.
Several research analysts have commented on the company. ValuEngine raised Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Banco Bradesco SA from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Finally, Scotiabank raised Banco Bradesco SA from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 11th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.65.
Banco Bradesco SA (BBD) opened at 7.95 on Wednesday. The stock has a 50 day moving average price of $9.05 and a 200-day moving average price of $8.91. Banco Bradesco SA has a 12-month low of $6.05 and a 12-month high of $10.37. The firm has a market cap of $48.38 billion, a price-to-earnings ratio of 8.82 and a beta of 1.73.
Banco Bradesco SA (NYSE:BBD) last posted its earnings results on Thursday, April 27th. The bank reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Banco Bradesco SA had a return on equity of 17.32% and a net margin of 9.08%. The firm had revenue of $13.25 billion for the quarter. Equities analysts forecast that Banco Bradesco SA will post $0.94 earnings per share for the current year.
The firm also recently announced a special dividend, which will be paid on Tuesday, August 8th. Investors of record on Thursday, July 6th will be given a $0.006 dividend. This represents a yield of 0.75%. The ex-dividend date of this dividend is Monday, July 3rd. Banco Bradesco SA’s dividend payout ratio is currently 7.95%.
A number of hedge funds have recently bought and sold shares of the stock. Fiera Capital Corp acquired a new stake in Banco Bradesco SA during the fourth quarter valued at approximately $101,000. Stifel Financial Corp acquired a new stake in Banco Bradesco SA during the first quarter valued at approximately $109,000. Ronald Blue & Co. LLC boosted its stake in Banco Bradesco SA by 4.4% in the first quarter. Ronald Blue & Co. LLC now owns 10,961 shares of the bank’s stock valued at $112,000 after buying an additional 466 shares in the last quarter. US Bancorp DE boosted its stake in Banco Bradesco SA by 4.4% in the first quarter. US Bancorp DE now owns 10,993 shares of the bank’s stock valued at $113,000 after buying an additional 468 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in Banco Bradesco SA during the first quarter valued at approximately $114,000. Hedge funds and other institutional investors own 2.74% of the company’s stock.
Banco Bradesco SA Company Profile
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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