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

Banco Bradesco S.A. (NYSE:BBD) was the recipient of a large 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 daily trading volume, of 32,950,000 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Investors Weigh In On Banco Bradesco

A number of large investors have recently modified their holdings of the stock. Insigneo Advisory Services LLC lifted its stake in shares of Banco Bradesco by 23.9% in the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after buying an additional 4,260 shares in the last quarter. Blue Trust Inc. lifted its position in Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after acquiring an additional 5,623 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in Banco Bradesco by 37.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock valued at $54,000 after acquiring an additional 7,400 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Banco Bradesco by 24.3% in the 3rd quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after purchasing an additional 8,641 shares in the last quarter. Finally, Inspire Advisors LLC increased its holdings in shares of Banco Bradesco by 18.5% in the 3rd quarter. Inspire Advisors LLC now owns 64,816 shares of the bank’s stock worth $172,000 after purchasing an additional 10,096 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $2.12 on Friday. The company has a market capitalization of $22.51 billion, a P/E ratio of 8.13, a PEG ratio of 0.25 and a beta of 0.94. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $3.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $2.38.

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

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 5th will be issued a $0.0031 dividend. This represents a $0.04 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio (DPR) is currently 11.54%.

Analyst Upgrades and Downgrades

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

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.