Banco Bradesco S.A. (NYSE:BBDO) Sees Large Drop in Short Interest

Banco Bradesco S.A. (NYSE:BBDO – Get Rating) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 27,100 shares, a decline of 24.7% from the March 15th total of 36,000 shares. Based on an average daily trading volume, of 30,500 shares, the days-to-cover ratio is presently 0.9 days.

Institutional investors and hedge funds have recently modified their holdings of the company. Freestone Capital Holdings LLC purchased a new stake in shares of Banco Bradesco during the fourth quarter valued at $38,000. Checchi Capital Advisers LLC boosted its stake in shares of Banco Bradesco by 27.6% during the third quarter. Checchi Capital Advisers LLC now owns 18,215 shares of the bank’s stock valued at $61,000 after purchasing an additional 3,938 shares during the period. Citadel Advisors LLC purchased a new stake in Banco Bradesco in the third quarter worth about $185,000. Northern Trust Corp lifted its stake in Banco Bradesco by 9.4% in the fourth quarter. Northern Trust Corp now owns 120,772 shares of the bank’s stock worth $350,000 after acquiring an additional 10,355 shares during the period. Finally, Morgan Stanley lifted its stake in Banco Bradesco by 7.2% in the first quarter. Morgan Stanley now owns 107,621 shares of the bank’s stock worth $440,000 after acquiring an additional 7,244 shares during the period.

NYSE BBDO traded up $0.09 on Monday, hitting $3.84. 28,398 shares of the stock were exchanged, compared to its average volume of 29,841. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.46 and a current ratio of 0.64. The stock has a fifty day moving average price of $3.52 and a two-hundred day moving average price of $3.29. The firm has a market capitalization of $37.32 billion, a P/E ratio of 9.20 and a beta of 1.13. Banco Bradesco has a 52-week low of $2.79 and a 52-week high of $4.86.

Shares of Banco Bradesco are scheduled to split on Tuesday, April 19th. The 11-10 split was announced on Tuesday, April 19th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, April 19th.

Banco Bradesco (NYSE:BBDO – Get Rating) last issued its earnings results on Tuesday, February 8th. The bank reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $6.21 billion during the quarter. Banco Bradesco had a net margin of 21.20% and a return on equity of 17.67%.

The business also recently announced a — dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Wednesday, May 4th will be paid a dividend of $0.0036 per share. This is a positive change from Banco Bradesco’s previous — dividend of $0.00. This represents a dividend yield of 3.6%. The ex-dividend date is Tuesday, May 3rd. Banco Bradesco’s payout ratio is currently 7.32%.

About Banco Bradesco (Get Rating)

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 segment, 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.

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