Banco Bradesco S.A. (NYSE:BBD) Short Interest Up 27.9% in February

Banco Bradesco S.A. (NYSE:BBD) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 204,950,000 shares, a growth of 27.9% from the January 31st total of 160,250,000 shares. Based on an average daily volume of 43,050,000 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently bought and sold shares of BBD. R Squared Ltd purchased a new position in shares of Banco Bradesco during the 4th quarter valued at approximately $30,000. Traveka Wealth LLC acquired a new stake in Banco Bradesco in the fourth quarter valued at $31,000. Peapack Gladstone Financial Corp boosted its stake in Banco Bradesco by 54.5% during the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock valued at $32,000 after acquiring an additional 6,000 shares during the last quarter. Townsquare Capital LLC acquired a new position in Banco Bradesco during the 3rd quarter worth $37,000. Finally, Blue Trust Inc. increased its position in shares of Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock worth $38,000 after purchasing an additional 8,801 shares during the last quarter.

Banco Bradesco Stock Up 1.2 %

NYSE BBD opened at $2.07 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $2.98. The business has a 50 day moving average price of $2.02 and a two-hundred day moving average price of $2.33. The stock has a market cap of $21.98 billion, a PE ratio of 6.88, a P/E/G ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, sell-side analysts predict that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 7th will be paid a $0.0033 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Friday, March 7th. This represents a $0.04 annualized dividend and a dividend yield of 1.90%. Banco Bradesco’s payout ratio is 6.67%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BBD. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their target price for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. Finally, HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a research report on Monday, January 13th.

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.