Banco Bradesco SA (NYSE:BBD) Short Interest Down 47.1% in June

Banco Bradesco SA (NYSE:BBD) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 18,809,232 shares, a drop of 47.1% from the June 15th total of 35,571,576 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 38,411,127 shares, the days-to-cover ratio is presently 0.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Institutional Trading of Banco Bradesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates bought a new position in Banco Bradesco in the second quarter worth approximately $38,000. Bank of America Corp DE grew its position in shares of Banco Bradesco by 355.9% during the 1st quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock valued at $102,487,000 after acquiring an additional 21,920,074 shares during the period. Amundi grew its position in shares of Banco Bradesco by 20.0% during the 1st quarter. Amundi now owns 24,583,083 shares of the bank’s stock valued at $89,728,000 after acquiring an additional 4,099,099 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Banco Bradesco by 62.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 15,858 shares of the bank’s stock worth $58,000 after purchasing an additional 6,074 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Banco Bradesco by 13.5% in the 1st quarter. Royal Bank of Canada now owns 358,051 shares of the bank’s stock worth $1,307,000 after purchasing an additional 42,496 shares in the last quarter.

Banco Bradesco Stock Performance

Banco Bradesco stock traded down $0.07 during mid-day trading on Thursday, reaching $3.56. 36,970,486 shares of the stock traded hands, compared to its average volume of 32,953,498. The stock has a market capitalization of $37.67 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.45 and a beta of 0.53. 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 12-month low of $2.73 and a 12-month high of $4.30. The business’s 50-day moving average is $3.48 and its 200-day moving average is $3.69.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $1.50 billion for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%. As a group, sell-side analysts predict that Banco Bradesco will post 0.5 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 5th will be issued a $0.0037 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Banco Bradesco’s dividend payout ratio (DPR) is presently 20.51%.

Banco Bradesco Company Profile

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.