Short Interest in Banco Bradesco S.A. (NYSE:BBD) Rises By 127.8%

Banco Bradesco S.A. (NYSE:BBD) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 84,850,000 shares, a growth of 127.8% from the November 30th total of 37,250,000 shares. Based on an average daily volume of 33,540,000 shares, the days-to-cover ratio is currently 2.5 days.

Banco Bradesco Stock Down 1.0 %

BBD stock opened at $1.90 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.56. The stock has a market capitalization of $20.22 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The firm has a 50 day moving average of $2.25 and a 200 day moving average of $2.44.

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

Banco Bradesco Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, August 11th. Shareholders of record on Friday, January 3rd will be issued a $0.0362 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a yield of 6.2%. Banco Bradesco’s payout ratio is 11.54%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in Banco Bradesco by 170.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after purchasing an additional 55,444,555 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Banco Bradesco in the 3rd quarter valued at approximately $104,542,000. Itau Unibanco Holding S.A. lifted its stake in Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after acquiring an additional 13,627,768 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Banco Bradesco by 19.2% in the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after purchasing an additional 12,228,662 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Banco Bradesco by 208.7% in the third quarter. Two Sigma Advisers LP now owns 16,851,220 shares of the bank’s stock valued at $44,824,000 after purchasing an additional 11,393,100 shares during the period.

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.