Banco Bradesco SA (BBD) Short Interest Update
Banco Bradesco SA (NYSE:BBD) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 19,806,025 shares, a decrease of 8.7% from the August 31st total of 21,685,635 shares. Based on an average daily trading volume, of 13,534,858 shares, the short-interest ratio is currently 1.5 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. acquired a new position in Banco Bradesco SA during the first quarter worth $474,000. BlackRock Group LTD increased its position in Banco Bradesco SA by 16.4% in the first quarter. BlackRock Group LTD now owns 14,017,747 shares of the company’s stock worth $104,432,000 after buying an additional 1,970,818 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Banco Bradesco SA by 3.9% in the first quarter. BlackRock Fund Advisors now owns 5,295,094 shares of the company’s stock valued at $39,448,000 after buying an additional 196,924 shares during the period. Nikko Asset Management Americas Inc. increased its position in shares of Banco Bradesco SA by 34.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 71,220 shares of the company’s stock valued at $553,000 after buying an additional 18,100 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Banco Bradesco SA during the first quarter valued at approximately $312,000. Institutional investors and hedge funds own 4.36% of the company’s stock.
A number of equities analysts have weighed in on BBD shares. Credit Suisse Group AG raised shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. cut shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $9.30 price target on shares of Banco Bradesco SA in a research report on Wednesday, September 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $8.65.
Shares of Banco Bradesco SA (NYSE:BBD) opened at 9.07 on Monday. The company’s 50-day moving average is $8.93 and its 200 day moving average is $7.83. Banco Bradesco SA has a 1-year low of $3.65 and a 1-year high of $9.46. The firm has a market cap of $50.17 billion, a price-to-earnings ratio of 9.20 and a beta of 1.99.
Banco Bradesco SA (NYSE:BBD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. On average, equities research analysts expect that Banco Bradesco SA will post ($0.15) EPS for the current fiscal year.
The firm also recently declared a dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.162 per share. The ex-dividend date is Monday, October 3rd. This is an increase from Banco Bradesco SA’s previous dividend of $0.01. Banco Bradesco SA’s dividend payout ratio (DPR) is currently 7.33%.
Banco Bradesco SA Company Profile
Banco Bradesco SA is a multiple service bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid‑sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
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