Short Interest in Banco Bradesco S.A. (NYSE:BBD) Expands By 54.0%

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 24,280,000 shares, a growth of 54.0% from the September 30th total of 15,770,000 shares. Based on an average daily trading volume, of 29,810,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently bought and sold shares of BBD. Inspire Investing LLC bought a new stake in shares of Banco Bradesco during the first quarter valued at about $29,000. Blue Trust Inc. lifted its stake in Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank's stock worth $30,000 after purchasing an additional 5,623 shares in the last quarter. Insigneo Advisory Services LLC purchased a new stake in Banco Bradesco in the 2nd quarter worth approximately $43,000. Eagle Bay Advisors LLC boosted its holdings in Banco Bradesco by 110.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank's stock valued at $54,000 after purchasing an additional 10,500 shares during the period. Finally, Mayport LLC purchased a new position in shares of Banco Bradesco during the 2nd quarter valued at $47,000.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating and boosted their target price for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Stock Performance

NYSE:BBD traded down $0.06 during trading hours on Friday, reaching $2.58. The stock had a trading volume of 27,982,112 shares, compared to its average volume of 21,588,004. The stock has a market cap of $27.50 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97. The stock has a 50 day simple moving average of $2.73 and a 200 day simple moving average of $2.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. Banco Bradesco has a 12-month low of $2.16 and a 12-month high of $3.65.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $9.64 billion during the quarter, compared to analyst estimates of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. On average, research analysts forecast that Banco Bradesco will post 0.35 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 5th will be paid a $0.002 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.02 dividend on an annualized basis and a yield of 0.93%. Banco Bradesco's dividend payout ratio is 13.04%.

About Banco Bradesco

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.