Banco Bradesco S.A. (NYSE:BBD) Short Interest Up 35.8% in December

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on BBD shares. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Banco Bradesco Price Performance

NYSE:BBD opened at $2.01 on Thursday. The company has a market capitalization of $21.34 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.32 and a beta of 0.94. The business’s 50-day moving average is $2.10 and its 200 day moving average is $2.41. 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:BBD) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. On average, equities research analysts forecast that Banco Bradesco will post 0.33 earnings per share 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. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.0031 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of Banco Bradesco by 6.0% during the second quarter. American Century Companies Inc. now owns 3,641,607 shares of the bank’s stock valued at $8,157,000 after purchasing an additional 207,649 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Banco Bradesco by 17.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 873,420 shares of the bank’s stock valued at $1,966,000 after buying an additional 130,000 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Banco Bradesco by 19.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 150,362 shares of the bank’s stock valued at $337,000 after buying an additional 24,763 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Banco Bradesco by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,969,714 shares of the bank’s stock worth $4,415,000 after buying an additional 262,005 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Banco Bradesco by 123.1% during the second quarter. Quantbot Technologies LP now owns 1,204,414 shares of the bank’s stock valued at $2,698,000 after acquiring an additional 664,471 shares during the last quarter.

Banco Bradesco Company Profile

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.