Short Interest in Banco Bradesco S.A. (NYSE:BBD) Expands By 6.6%
Banco Bradesco S.A. (NYSE:BBD – Get Free Report) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 67,680,000 shares, an increase of 6.6% from the October 31st total of 63,480,000 shares. Based on an average trading volume of 15,890,000 shares, the short-interest ratio is currently 4.3 days.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group initiated coverage on shares of Banco Bradesco in a research report on Monday, October 16th. They issued a “buy” rating and a $3.50 price objective on the stock.
Check Out Our Latest Analysis on BBD
Banco Bradesco Stock Performance
Shares of NYSE BBD traded up $0.03 during trading hours on Friday, reaching $3.36. 9,721,853 shares of the stock were exchanged, compared to its average volume of 15,948,358. The firm has a market capitalization of $35.81 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 0.66 and a beta of 0.98. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. Banco Bradesco has a 52 week low of $2.34 and a 52 week high of $3.68. The stock’s fifty day simple moving average is $2.99 and its 200 day simple moving average is $3.16.
Banco Bradesco (NYSE:BBD – Get Free Report) last posted its quarterly earnings data on Thursday, November 9th. The bank reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $10.65 billion for the quarter, compared to the consensus estimate of $6.27 billion. Banco Bradesco had a return on equity of 9.06% and a net margin of 6.38%. Sell-side analysts predict that Banco Bradesco will post 0.36 EPS for the current year.
Banco Bradesco Increases Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, December 5th will be given a dividend of $0.0039 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Monday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is currently 14.29%.
Hedge Funds Weigh In On Banco Bradesco
A number of hedge funds have recently bought and sold shares of BBD. Creative Planning increased its stake in Banco Bradesco by 27.6% during the 2nd quarter. Creative Planning now owns 15,319 shares of the bank’s stock worth $50,000 after acquiring an additional 3,312 shares during the period. Ieq Capital LLC grew its stake in Banco Bradesco by 31.4% during the second quarter. Ieq Capital LLC now owns 14,329 shares of the bank’s stock worth $50,000 after buying an additional 3,422 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Banco Bradesco by 4.8% during the third quarter. Integrated Wealth Concepts LLC now owns 76,357 shares of the bank’s stock worth $218,000 after buying an additional 3,476 shares in the last quarter. Captrust Financial Advisors increased its holdings in Banco Bradesco by 21.4% in the 2nd quarter. Captrust Financial Advisors now owns 20,501 shares of the bank’s stock valued at $67,000 after buying an additional 3,610 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of Banco Bradesco by 6.5% in the 2nd quarter. Guggenheim Capital LLC now owns 60,093 shares of the bank’s stock valued at $208,000 after buying an additional 3,651 shares in the last quarter. 1.84% of the stock is owned by institutional investors.
Banco Bradesco Company Profile (Get Free Report)
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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Banco Bradesco, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Banco Bradesco wasn’t on the list.
While Banco Bradesco currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Original: MarketBeat News Feed: Short Interest in Banco Bradesco S.A. (NYSE:BBD) Expands By 6.6%