Banco Bradesco S.A. (NYSE:BBD) Short Interest Up 16.6% in June

Banco Bradesco S.A. (NYSE:BBD) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 56,740,000 shares, a growth of 16.6% from the May 31st total of 48,650,000 shares. Based on an average daily trading volume, of 16,490,000 shares, the short-interest ratio is presently 3.4 days.

Banco Bradesco Trading Down 0.9 %

Shares of Banco Bradesco stock opened at $2.18 on Wednesday. The business’s 50 day simple moving average is $2.51 and its 200 day simple moving average is $2.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77. Banco Bradesco has a 52-week low of $2.16 and a 52-week high of $3.65.

Banco Bradesco (NYSE:BBD) last released its earnings results on Thursday, May 2nd. The bank reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $9.64 billion during the quarter. Banco Bradesco had a net margin of 6.70% and a return on equity of 9.55%. On average, equities research analysts forecast that Banco Bradesco will post 0.34 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Wednesday, July 3rd will be issued a $0.0035 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Wednesday, July 3rd. Banco Bradesco’s payout ratio is presently 52.18%.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Savvy Advisors Inc. acquired a new position in shares of Banco Bradesco in the fourth quarter valued at approximately $35,000. Inspire Investing LLC acquired a new stake in shares of Banco Bradesco during the first quarter worth $29,000. HTLF Bank bought a new stake in shares of Banco Bradesco in the fourth quarter valued at about $42,000. Aigen Investment Management LP acquired a new position in shares of Banco Bradesco in the fourth quarter valued at about $43,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Banco Bradesco during the third quarter worth about $36,000.

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.