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Banco Bradesco S.A. (NYSE: BBD) Surprises Bears, Looks Strong Going Forward

In the last trading session, 11.02 million Banco Bradesco S.A. (NYSE:BBD) shares changed hands as the company’s beta touched 0.77. With the company’s per share price at $3.07 changed hands at $0.01 or 0.33% during last session, the market valuation stood at $30.87B. BBD’s last price was a discount, traded about -26.71% off its 52-week high of $3.89. The share price had its 52-week low at $2.29, which suggests the last value was 25.41% up since then. When we look at Banco Bradesco S.A.’s average trading volume, we note the 10-day average is 16.1 million shares, with the 3-month average coming to 20.81 million.

Banco Bradesco S.A. (NYSE:BBD) trade information

Instantly BBD was in green as seen at the end of in last trading. With action 3.37%, the performance over the past five days has been green. The jump to weekly highs of 3.09 on Monday, 09/18/23 added 0.33% to the stock’s daily price. The company’s shares are showing year-to-date upside of 13.63%, with the 5-day performance at 3.37% in the green. However, in the 30-day time frame, Banco Bradesco S.A. (NYSE:BBD) is 1.79% up. Looking at the short shares, we see there were 28.23 million shares sold at short interest cover period of 1.24 days.

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The consensus price target for the stock as assigned by Wall Street analysts is $4.27, meaning bulls need an upside of 28.1% from its current market value. According to analyst projections, BBD’s forecast low is $3.50 with $5.10 as the target high. To hit the forecast high, the stock’s price needs a -66.12% plunge from its current level, while the stock would need to soar -14.01% for it to hit the projected low.

Banco Bradesco S.A. (BBD) estimates and forecasts

Data shows that the Banco Bradesco S.A. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 23.75% over the past 6 months, a 2.86% in annual growth rate that is considerably lower than the industry average of 6.80%. Year-over-year growth is forecast to reach -31.00% down from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $5.93 billion. 2 analysts are of the opinion that Banco Bradesco S.A.’s revenue for the quarter ending Dec 2023 will be $6.5 billion. The company’s revenue for the corresponding quarters a year ago was $5.63 billion and $8.62 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.30%. The estimates for the next quarter sales put growth at -24.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 4.20%. The 2023 estimates are for Banco Bradesco S.A. earnings to decrease by -9.40%, but the outlook for the next 5-year period is at 1.60% per year.

BBD Dividends

Banco Bradesco S.A. is expected to release its next quarterly earnings report in October. The 6.48% annual yield figure for the share gives it an annual dividend of 0.20. It is important to note, however, that the 6.48% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Banco Bradesco S.A. (NYSE:BBD)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.01% of Banco Bradesco S.A. shares while 18.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 18.38%. There are 18.38% institutions holding the Banco Bradesco S.A. stock share, with Sprucegrove Investment Management Ltd the top institutional holder. As of Jun 29, 2023, the company held 1.59% of the shares, roughly 84.65 million BBD shares worth $259.88 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 1.24% or 65.63 million shares worth $201.49 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Apr 29, 2023 were Vanguard International Value Fund and Blackrock Emerging Markets Fund. With 28.83 million shares estimated at $88.5 million under it, the former controlled 0.54% of total outstanding shares. On the other hand, Blackrock Emerging Markets Fund held about 0.46% of the shares, roughly 24.3 million shares worth around $74.59 million.

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