Banco Bradesco SA (NYSE:BBDO) Short Interest Down 32.3% in September

Banco Bradesco SA (NYSE:BBDO) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 30,400 shares, a decline of 32.3% from the September 15th total of 44,900 shares. Based on an average trading volume of 36,000 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 36,000 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Bradesco in a report on Friday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Banco Bradesco has an average rating of “Hold”.

Hedge Funds Weigh In On Banco Bradesco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management purchased a new position in shares of Banco Bradesco in the 2nd quarter worth about $30,000. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 10,974 shares during the last quarter. Aprio Wealth Management LLC purchased a new position in shares of Banco Bradesco in the 1st quarter worth about $43,000. Savant Capital LLC purchased a new position in shares of Banco Bradesco in the 2nd quarter worth about $51,000. Finally, BSW Wealth Partners raised its stake in Banco Bradesco by 29.7% in the 1st quarter. BSW Wealth Partners now owns 30,709 shares of the bank’s stock valued at $64,000 after acquiring an additional 7,027 shares during the period.

Banco Bradesco Price Performance

Shares of NYSE:BBDO opened at $2.93 on Friday. The company’s 50-day moving average is $2.77 and its 200 day moving average is $2.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $31.13 billion, a P/E ratio of 8.36 and a beta of 0.82. Banco Bradesco has a fifty-two week low of $1.71 and a fifty-two week high of $3.00.

Banco Bradesco (NYSE:BBDO) last issued its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 8th. Investors of record on Wednesday, November 5th will be issued a $0.0032 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 Wednesday, November 5th. Banco Bradesco’s payout ratio is 5.71%.

About Banco Bradesco

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 segments, 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; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.