Banco Bradesco SA (NYSE:BBD) sees a significant increase in short-term interest

Banco Bradesco SA (NYSE: BBD – Get a rating) benefited from significant growth in short-term interest in September. As of September 30, there was short interest totaling 25,480,000 shares, a growth of 34.3% from the total of 18,970,000 shares as of September 15. Based on an average daily volume of 28,700,000 shares, the short interest rate is currently 0.9 days.

Institutional negotiation of Banco Bradesco

Major investors have recently increased or reduced their stake in the company. Aaron Wealth Advisors LLC increased its stake in Banco Bradesco by 320.9% in the first quarter. Aaron Wealth Advisors LLC now owns 82,281 shares of the bank valued at $17,733,000 after acquiring an additional 62,733 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Banco Bradesco in the first quarter worth $1,360,000. Altfest LJ & Co. Inc. acquired a new stake in Banco Bradesco in the first quarter valued at $68,000. KCS Wealth Advisory increased its stake in Banco Bradesco by 13.6% in the second quarter. KCS Wealth Advisory now owns 196,477 shares of the bank valued at $638,000 after acquiring 23,527 additional shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its stake in Banco Bradesco by 12.0% in the first quarter. Vestmark Advisory Solutions Inc. now owns 36,662 shares of the bank valued at $170,000 after acquiring 3,922 additional shares in the last quarter. Institutional investors and hedge funds hold 2.38% of the company’s shares.

Analyst upgrades and downgrades

BBD has been the subject of several recent analyst reports. Goldman Sachs Group raised its price target on Banco Bradesco shares from $4.40 to $5.40 and gave the company a “buy” rating in a Thursday, September 29 research note. Grupo Santander downgraded shares of Banco Bradesco from an “outperforming” rating to a “neutral” rating in a Monday, August 29 report. Scotiabank upgraded shares of Banco Bradesco from an “sector outperform” rating to an “sector outperform” rating in a Wednesday, Oct. 5 report. Finally, JPMorgan Chase & Co. downgraded Banco Bradesco shares from an “overweight” rating to a “neutral” rating in a Friday, Oct. 7 report. Two investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4.97.

Banco Bradesco share performance

BBD shares opened at $3.71 on Friday. Banco Bradesco has a 12-month low of $2.93 and a 12-month high of $4.32. The company has a fifty-day simple moving average of $3.77 and a 200-day simple moving average of $3.71. The stock has a market capitalization of $39.54 billion, a price/earnings ratio of 8.97, a PEG ratio of 0.43 and a beta of 0.85. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt ratio of 1.60.

Banco Bradesco (NYSE:BBD- Get a rating) last announced its results on Thursday, August 4. The bank reported EPS of $0.13 for the quarter, reaching the consensus estimate of $0.13. Banco Bradesco achieved a net margin of 16.85% and a return on equity of 18.00%. The company posted revenue of $9.79 billion in the quarter, versus $5.95 billion expected by analysts. Research analysts expect Banco Bradesco to post an EPS of 0.51 for the current fiscal year.

Banco Bradesco increases its dividend

The company also recently declared a dividend, which will be paid on Tuesday, November 8. Shareholders of record on Wednesday, October 5 will receive a dividend of $0.003. The ex-date of this dividend is Tuesday, October 4. This is a boost from Banco Bradesco’s previous dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.25%.

About Banco Bradesco

(Get a rating)

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, businesses and companies in Brazil and abroad. The Company operates through two segments, Banking and Insurance. It provides current, savings, click and salary accounts; real estate credit, car financing, salary credit, mortgage loan, microcredit, leasing, personal and installment credit; debit and business cards; financial and security services; consortium products; automobile, personal accident, dental, travel and life insurance; investment products; retirement products; real estate and vehicle auctions; cash management and foreign trade and foreign exchange services; capitalization bonds; and online banking.

Read more

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Banco Bradesco, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Banco Bradesco wasn’t on the list.

While Banco Bradesco currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Rosalie M. Dehner