Banco Bradesco SA (NYSE:BBDO) Short Interest Up 99.2% in April


Banco Bradesco SA (NYSE:BBDO – Get Rating) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 23,500 shares, an increase of 99.2% from the April 15th total of 11,800 shares. Based on an average trading volume of 27,900 shares, the days-to-cover ratio is currently 0.8 days.

Shares of NYSE: BBDO traded down $0.12 during mid-day trading on Friday, reaching $3.01. 9,272 shares of the company traded hands, compared to its average volume of 20,234. The company’s 50 day moving average price is $3.22 and its 200-day moving average price is $3.01. The firm has a market cap of $32.18 billion, a PE ratio of 7.66 and a beta of 1.14. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.56 and a quick ratio of 1.44. Banco Bradesco has a 52 week low of $2.54 and a 52 week high of $4.42.

The firm also recently declared a monthly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 3rd will be paid a $0.0033 dividend. This represents a $0.04 annualized dividend and a yield of 1.33%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Thursday, June 2nd. Banco Bradesco’s dividend payout ratio is presently 30.56%.

Hedge funds have recently bought and sold shares of the business. Freestone Capital Holdings LLC bought a new stake in Banco Bradesco in the fourth quarter worth $38,000. Checchi Capital Advisers LLC lifted its position in Banco Bradesco by 26.3% in the first quarter. Checchi Capital Advisers LLC now owns 21,911 shares of the bank’s stock worth $84,000 after buying an additional 4,561 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Banco Bradesco during the third quarter worth $185,000. Northern Trust Corp lifted its position in shares of Banco Bradesco by 9.4% during the fourth quarter. Northern Trust Corp now owns 120,772 shares of the bank’s stock worth $350,000 after purchasing an additional 10,355 during the last quarter. Finally, Morgan Stanley lifted its position in shares of Banco Bradesco by 7.2% during the first quarter. Morgan Stanley now owns 107,621 shares of the bank’s stock worth $440,000 after purchasing an additional 7,244 shares during the last quarter.

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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