Short Interest in Banco Bradesco SA (NYSE:BBD) Drops By 20.0%

by · The Cerbat Gem

Banco Bradesco SA (NYSE:BBDGet Free Report) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 8,418,523 shares, a decrease of 20.0% from the March 31st total of 10,518,511 shares. Based on an average trading volume of 40,144,841 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Trading of Banco Bradesco

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after purchasing an additional 4,353 shares during the period. Brooklyn Investment Group boosted its stake in Banco Bradesco by 1,276.5% in the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after purchasing an additional 9,842 shares during the period. Checchi Capital Advisers LLC bought a new stake in Banco Bradesco in the 4th quarter valued at $39,000. Ballentine Partners LLC bought a new stake in Banco Bradesco in the 4th quarter valued at $41,000. Finally, GAMMA Investing LLC boosted its stake in Banco Bradesco by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after purchasing an additional 3,619 shares during the period.

Analysts Set New Price Targets

Several brokerages have issued reports on BBD. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a report on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Check Out Our Latest Analysis on Banco Bradesco

Banco Bradesco Stock Up 3.1%

BBD stock traded up $0.12 during trading hours on Thursday, reaching $3.89. 22,750,271 shares of the stock were exchanged, compared to its average volume of 34,289,944. The firm’s 50-day moving average is $3.84 and its 200-day moving average is $3.67. The company has a market cap of $41.17 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. Banco Bradesco has a 12 month low of $2.26 and a 12 month high of $4.30.

Banco Bradesco (NYSE:BBDGet Free Report) last posted its quarterly earnings data on Thursday, February 5th. The bank reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $6.68 billion. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%. On average, equities research analysts expect that Banco Bradesco will post 0.47 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 8th. Investors of record on Wednesday, May 6th will be issued a dividend of $0.0037 per share. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 6th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is presently 110.26%.

About Banco Bradesco

(Get Free Report)

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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