Banco Bradesco SA (NYSE:BBDO) Short Interest Up 31.6% in December

Banco Bradesco SA (NYSE:BBDO) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 142,158 shares, a growth of 31.6% from the November 30th total of 108,043 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 57,681 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily volume of 57,681 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Banco Bradesco currently has an average rating of “Buy”.

Banco Bradesco Price Performance

BBDO stock traded up $0.03 during mid-day trading on Tuesday, hitting $2.93. 48,054 shares of the stock were exchanged, compared to its average volume of 44,366. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 8.36 and a beta of 0.62. The business has a fifty day moving average price of $3.03 and a 200 day moving average price of $2.80. Banco Bradesco has a 12 month low of $1.74 and a 12 month high of $3.31.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 6th will be paid a $0.0031 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, January 6th. Banco Bradesco’s payout ratio is 5.71%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new stake in shares of Banco Bradesco during the second quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in shares of Banco Bradesco by 5,542.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock worth $30,000 after purchasing an additional 10,974 shares during the period. Compound Planning Inc. bought a new stake in shares of Banco Bradesco during the 3rd quarter valued at about $35,000. Aprio Wealth Management LLC purchased a new stake in Banco Bradesco in the first quarter worth about $43,000. Finally, Savant Capital LLC purchased a new position in shares of Banco Bradesco during the 2nd quarter worth approximately $51,000.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.