Banco Bradesco S.A. (NYSE:BBD) Short Interest Up 54.0% in October

Banco Bradesco S.A. (NYSE:BBD) saw a significant growth in short interest in 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 Trading of Banco Bradesco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC increased its position in shares of Banco Bradesco by 27.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock worth $60,000 after buying an additional 4,550 shares during the period. Inspire Advisors LLC raised its position in shares of Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after acquiring an additional 4,737 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Banco Bradesco by 3.4% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 163,471 shares of the bank’s stock valued at $468,000 after purchasing an additional 5,383 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after buying an additional 5,623 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Banco Bradesco by 1.1% during the second quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 8,000 shares during the period.

Banco Bradesco Trading Up 2.5 %

BBD opened at $2.65 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The company’s 50 day moving average price is $2.73 and its two-hundred day moving average price is $2.57. The firm has a market capitalization of $28.19 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.30 and a beta of 0.97.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. As a group, research analysts predict that Banco Bradesco will post 0.35 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business 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. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Tuesday, November 5th. Banco Bradesco’s dividend payout ratio is currently 13.04%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

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.