Banco Bradesco S.A. (NYSE:BBD) Short Interest Down 44.3% in January

Banco Bradesco S.A. (NYSE:BBDGet Free Report) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 24,780,000 shares, a decline of 44.3% from the January 15th total of 44,490,000 shares. Based on an average daily volume of 16,670,000 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Banco Bradesco from $3.20 to $2.80 and set a “sell” rating for the company in a research report on Thursday, February 8th. HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Jefferies Financial Group downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday.

View Our Latest Analysis on BBD

Banco Bradesco Stock Performance

NYSE BBD opened at $2.75 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.97. Banco Bradesco has a 12 month low of $2.34 and a 12 month high of $3.68. The stock has a 50 day moving average of $3.29 and a 200-day moving average of $3.12.

Banco Bradesco Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, April 8th. Stockholders of record on Tuesday, March 5th will be issued a $0.0038 dividend. This represents a dividend yield of 5.9%. The ex-dividend date is Monday, March 4th. Banco Bradesco’s payout ratio is presently 14.29%.

Institutional Investors Weigh In On Banco Bradesco

Several large investors have recently made changes to their positions in BBD. Advisor Group Holdings Inc. boosted its holdings in shares of Banco Bradesco by 15.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 47,036 shares of the bank’s stock valued at $325,000 after buying an additional 6,254 shares during the last quarter. Bank of Montreal Can raised its stake in Banco Bradesco by 38.4% in the 1st quarter. Bank of Montreal Can now owns 164,575 shares of the bank’s stock valued at $767,000 after acquiring an additional 45,641 shares during the period. Sequoia Financial Advisors LLC raised its stake in Banco Bradesco by 36.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 16,506 shares of the bank’s stock valued at $77,000 after acquiring an additional 4,407 shares during the period. Federated Hermes Inc. bought a new stake in Banco Bradesco in the 1st quarter valued at $470,000. Finally, Prudential Financial Inc. bought a new stake in Banco Bradesco in the 1st quarter valued at $57,000. Institutional investors and hedge funds own 1.84% of the company’s stock.

Banco Bradesco Company Profile

(Get Free Report)

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; 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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