Banco Bradesco SA (NYSE:BBD) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 19,806,025 shares, a drop of 8.7% from the August 31st total of 21,685,635 shares. Based on an average trading volume of 13,534,858 shares, the days-to-cover ratio is currently 1.5 days.
Several research firms recently weighed in on BBD. JPMorgan Chase & Co. downgraded Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $9.30 target price on shares of Banco Bradesco SA in a research report on Wednesday, September 21st. Finally, Credit Suisse Group AG raised Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.65.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in shares of Banco Bradesco SA by 38.5% in the second quarter. Macquarie Group Ltd. now owns 3,114,259 shares of the company’s stock valued at $24,325,000 after buying an additional 865,742 shares during the period. Northwestern Mutual Investment Management Company LLC bought a new position in shares of Banco Bradesco SA during the second quarter valued at about $3,969,000. Legal & General Group Plc raised its position in shares of Banco Bradesco SA by 46.6% in the second quarter. Legal & General Group Plc now owns 2,166,358 shares of the company’s stock valued at $16,908,000 after buying an additional 688,608 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Banco Bradesco SA during the second quarter valued at about $39,516,000. Finally, Capital International Investors raised its position in shares of Banco Bradesco SA by 10.0% in the second quarter. Capital International Investors now owns 12,108,052 shares of the company’s stock valued at $94,564,000 after buying an additional 1,100,732 shares during the period. 4.36% of the stock is currently owned by hedge funds and other institutional investors.
Banco Bradesco SA (NYSE:BBD) opened at 9.42 on Thursday. The company has a market capitalization of $52.11 billion, a price-to-earnings ratio of 9.55 and a beta of 1.96. The company’s 50-day moving average price is $8.94 and its 200 day moving average price is $7.90. Banco Bradesco SA has a 12 month low of $3.65 and a 12 month high of $9.47.
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, topping the consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. Analysts forecast that Banco Bradesco SA will post ($0.15) EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, October 5th will be issued a $0.162 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This is a boost from Banco Bradesco SA’s previous dividend of $0.01. Banco Bradesco SA’s dividend payout ratio is presently 237.11%.
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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