Banco Bradesco SA (NYSE:BBD) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 19,806,025 shares, a drop of 8.7% from the August 31st total of 21,685,635 shares. Based on an average trading volume of 13,534,858 shares, the days-to-cover ratio is presently 1.5 days.
Banco Bradesco SA (NYSE:BBD) opened at 9.53 on Friday. The firm has a 50-day moving average price of $8.96 and a 200 day moving average price of $7.93. The stock has a market capitalization of $52.72 billion, a price-to-earnings ratio of 9.74 and a beta of 1.96. Banco Bradesco SA has a 52-week low of $3.65 and a 52-week high of $9.57.
Banco Bradesco SA (NYSE:BBD) last announced its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. On average, equities research analysts predict that Banco Bradesco SA will post $0.87 EPS for the current year.
The company also recently announced a dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.162 per share. This is an increase from Banco Bradesco SA’s previous dividend of $0.01. The ex-dividend date of this dividend is Monday, October 3rd. Banco Bradesco SA’s payout ratio is 7.33%.
A number of brokerages recently weighed in on BBD. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $9.30 target price on shares of Banco Bradesco SA in a report on Wednesday, September 21st. Credit Suisse Group AG upgraded Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a report on Thursday, July 14th. Finally, JPMorgan Chase & Co. cut Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.65.
Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its stake in shares of Banco Bradesco SA by 38.5% in the second quarter. Macquarie Group Ltd. now owns 3,114,259 shares of the company’s stock valued at $24,325,000 after buying an additional 865,742 shares during the period. Northwestern Mutual Investment Management Company LLC bought a new position in Banco Bradesco SA during the second quarter valued at approximately $3,969,000. Legal & General Group Plc boosted its position in Banco Bradesco SA by 46.6% in the second quarter. Legal & General Group Plc now owns 2,166,358 shares of the company’s stock valued at $16,908,000 after buying an additional 688,608 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Banco Bradesco SA during the second quarter valued at approximately $39,516,000. Finally, Capital International Investors boosted its position in Banco Bradesco SA by 10.0% in the second quarter. Capital International Investors now owns 12,108,052 shares of the company’s stock valued at $94,564,000 after buying an additional 1,100,732 shares in the last quarter. 4.36% of the stock is currently owned by institutional investors.
About Banco Bradesco SA
Banco Bradesco SA is a multiple service bank. The Company 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. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
Receive News & Ratings for Banco Bradesco SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco SA and related companies with MarketBeat.com's FREE daily email newsletter.