Banco Bradesco SA (NYSE:BBDO) Short Interest Update

Banco Bradesco SA (NYSE:BBDO) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 138,764 shares, a drop of 36.5% from the May 14th total of 218,599 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 87,913 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Banco Bradesco Trading Up 0.2%

Shares of BBDO opened at $3.03 on Monday. The firm’s 50 day simple moving average is $3.30 and its 200 day simple moving average is $3.26. The company has a market capitalization of $32.06 billion, a P/E ratio of 7.76 and a beta of 0.56. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. Banco Bradesco has a 1-year low of $2.37 and a 1-year high of $3.80.

Banco Bradesco (NYSE:BBDO) last announced its earnings results on Wednesday, May 6th. The bank reported $0.12 earnings per share for the quarter. The business had revenue of $13.07 billion for the quarter. Banco Bradesco had a net margin of 8.95% and a return on equity of 14.15%.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.0035 per share. The ex-dividend date is Wednesday, June 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.4%. Banco Bradesco’s dividend payout ratio (DPR) is 7.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BBDO. Goldman Sachs Group Inc. grew its position in Banco Bradesco by 54.2% during the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after acquiring an additional 181,299 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Banco Bradesco during the third quarter valued at approximately $72,000. Caprock Group LLC bought a new position in Banco Bradesco during the third quarter valued at approximately $410,000. D Orazio & Associates Inc. grew its position in Banco Bradesco by 37.3% during the third quarter. D Orazio & Associates Inc. now owns 91,428 shares of the bank’s stock valued at $268,000 after acquiring an additional 24,822 shares during the last quarter. Finally, Compound Planning Inc. bought a new position in Banco Bradesco during the third quarter valued at approximately $35,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.