Short Interest in Banco Bradesco S.A. (NYSE:BBD) Expands By 35.8%

Banco Bradesco S.A. (NYSE:BBDGet Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 115,210,000 shares, an increase of 35.8% from the December 31st total of 84,850,000 shares. Based on an average trading volume of 32,950,000 shares, the short-interest ratio is presently 3.5 days.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $2.01 on Thursday. The stock has a market cap of $21.34 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 0.24 and a beta of 0.94. The company has a fifty day simple moving average of $2.02 and a 200-day simple moving average of $2.39. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $3.36.

Banco Bradesco (NYSE:BBDGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Equities analysts expect that Banco Bradesco will post 0.33 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 5th will be issued a $0.0031 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s payout ratio is currently 11.54%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

View Our Latest Stock Report on BBD

Institutional Investors Weigh In On Banco Bradesco

Several large investors have recently modified their holdings of BBD. Massachusetts Financial Services Co. MA boosted its stake in shares of Banco Bradesco by 170.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after buying an additional 55,444,555 shares during the period. ARGA Investment Management LP boosted its holdings in Banco Bradesco by 215.1% during the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after buying an additional 56,552,808 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after acquiring an additional 12,228,662 shares during the period. Wellington Management Group LLP increased its position in shares of Banco Bradesco by 15.1% in the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock valued at $125,144,000 after buying an additional 6,171,193 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Banco Bradesco by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock valued at $120,122,000 after acquiring an additional 1,139,470 shares in the last quarter.

Banco Bradesco Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.