Short Interest in Banco Bradesco SA (NYSE:BBD) Increases By 51.2%

Banco Bradesco SA (NYSE:BBD) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 29,420,000 shares, an increase of 51.2% from the September 30th total of 19,460,000 shares. Based on an average daily volume of 13,210,000 shares, the short-interest ratio is currently 2.2 days. Approximately 0.7% of the shares of the company are short sold.

Several analysts recently issued reports on the company. Zacks Investment Research raised Banco Bradesco from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. ValuEngine raised Banco Bradesco from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. Finally, Morgan Stanley raised Banco Bradesco from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Banco Bradesco has an average rating of “Hold” and a consensus target price of $10.29.

Shares of NYSE BBD traded down $0.05 during mid-day trading on Thursday, hitting $7.91. The company had a trading volume of 12,331,941 shares, compared to its average volume of 14,132,275. The stock has a market cap of $65.78 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.61 and a beta of 0.84. Banco Bradesco has a 12 month low of $7.53 and a 12 month high of $10.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.13 and a quick ratio of 1.10. The firm’s 50 day simple moving average is $8.34 and its two-hundred day simple moving average is $8.81.

The business also recently declared a — dividend, which was paid on Friday, November 8th. Investors of record on Thursday, October 3rd were issued a $0.0046 dividend. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, October 2nd. Banco Bradesco’s dividend payout ratio (DPR) is 7.04%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtus ETF Advisers LLC bought a new stake in Banco Bradesco during the 2nd quarter valued at $36,000. Exane Derivatives bought a new stake in Banco Bradesco during the 2nd quarter valued at $43,000. Lindbrook Capital LLC raised its stake in Banco Bradesco by 28.1% during the 2nd quarter. Lindbrook Capital LLC now owns 6,348 shares of the bank’s stock valued at $62,000 after acquiring an additional 1,393 shares in the last quarter. Parallel Advisors LLC raised its stake in Banco Bradesco by 50.4% during the 3rd quarter. Parallel Advisors LLC now owns 6,660 shares of the bank’s stock valued at $54,000 after acquiring an additional 2,232 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. raised its stake in Banco Bradesco by 20.0% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 7,244 shares of the bank’s stock valued at $71,000 after acquiring an additional 1,207 shares in the last quarter. 3.07% of the stock is currently owned by institutional investors and hedge funds.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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