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

Banco Bradesco S.A. (NYSE:BBD) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 52,700,000 shares, a growth of 15.4% from the June 30th total of 45,680,000 shares. Based on an average trading volume of 18,570,000 shares, the short-interest ratio is currently 2.8 days.

Banco Bradesco Stock Up 0.5 %

BBD stock opened at $2.22 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The business has a fifty day simple moving average of $2.36 and a 200-day simple moving average of $2.68. Banco Bradesco has a 52 week low of $2.16 and a 52 week high of $3.65.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Thursday, May 2nd. The bank reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $9.64 billion during the quarter. Banco Bradesco had a return on equity of 9.55% and a net margin of 6.70%. As a group, analysts predict that Banco Bradesco will post 0.34 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.0035 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.88%. Banco Bradesco’s payout ratio is 13.04%.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in shares of Banco Bradesco by 77.2% during the 4th quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock worth $242,441,000 after buying an additional 30,188,950 shares during the last quarter. Wellington Management Group LLP boosted its position in Banco Bradesco by 14.1% during the 4th quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock worth $211,783,000 after purchasing an additional 7,478,762 shares during the period. Oaktree Capital Management LP boosted its position in Banco Bradesco by 8.2% during the 4th quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock worth $120,157,000 after purchasing an additional 2,588,418 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Banco Bradesco by 51.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank’s stock worth $112,715,000 after purchasing an additional 10,885,211 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Banco Bradesco by 8.9% during the 1st quarter. Russell Investments Group Ltd. now owns 26,441,672 shares of the bank’s stock worth $75,623,000 after purchasing an additional 2,166,229 shares during the period.

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.