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

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 204,950,000 shares, an increase of 27.9% from the January 31st total of 160,250,000 shares. Based on an average daily trading volume, of 43,050,000 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BBD shares. The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and lowered their price objective for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price target for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th.

Banco Bradesco Trading Up 0.8 %

Shares of Banco Bradesco stock traded up $0.02 during trading on Wednesday, reaching $1.99. The company's stock had a trading volume of 22,110,396 shares, compared to its average volume of 28,200,643. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $2.98. The firm's 50-day moving average is $2.01 and its two-hundred day moving average is $2.33. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, sell-side analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be given a $0.0033 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 annualized dividend and a yield of 1.98%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is presently 6.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBD. R Squared Ltd purchased a new stake in Banco Bradesco during the 4th quarter valued at $30,000. Traveka Wealth LLC purchased a new stake in shares of Banco Bradesco during the fourth quarter worth about $31,000. Peapack Gladstone Financial Corp grew its stake in shares of Banco Bradesco by 54.5% in the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after purchasing an additional 6,000 shares during the last quarter. Townsquare Capital LLC purchased a new position in Banco Bradesco during the 3rd quarter valued at about $37,000. Finally, Blue Trust Inc. raised its position in Banco Bradesco by 78.2% during the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after purchasing an additional 8,801 shares during the last quarter.

Banco Bradesco Company Profile

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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