Banco Bradesco S.A. [BBD] is -5.79% lower this YTD. Is it still time to buy?

Banco Bradesco S.A. [NYSE: BBD] gained 1.40% or 0.04 points to close at $2.90 with a heavy trading volume of 74552114 shares.


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It opened the trading session at $2.92, the shares rose to $2.94 and dropped to $2.87, the range by which the price of stock traded the whole day. The daily chart for BBD points out that the company has recorded -26.95% loss over the past six months. However, it is still -6.62% lower than its most recent low trading price.

If we look at the average trading volume of 38.12M shares, BBD reached to a volume of 74552114 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Banco Bradesco S.A. [BBD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BBD shares is $4.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BBD stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Banco Bradesco S.A. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 17, 2022. While these analysts kept the previous recommendation, Barclays dropped their target price from $5 to $3.50. The new note on the price target was released on November 15, 2022, representing the official price target for Banco Bradesco S.A. stock.

The Average True Range (ATR) for Banco Bradesco S.A. is set at 0.16, with the Price to Sales ratio for BBD stock in the period of the last 12 months amounting to 2.14. The Price to Book ratio for the last quarter was 0.52, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for BBD stock

Banco Bradesco S.A. [BBD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.75. With this latest performance, BBD shares dropped by -24.80% in over the last four-week period, additionally sinking by -26.95% over the last 6 months – not to mention a drop of -12.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BBD stock in for the last two-week period is set at 34.35, with the RSI for the last a single of trading hit 33.03, and the three-weeks RSI is set at 36.32 for Banco Bradesco S.A. [BBD]. The present Moving Average for the last 50 days of trading for this stock 3.63, while it was recorded at 2.84 for the last single week of trading, and 3.68 for the last 200 days.

Banco Bradesco S.A. [BBD]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BBD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Banco Bradesco S.A. go to 1.60%.

An analysis of insider ownership at Banco Bradesco S.A. [BBD]

There are presently around $2,495 million, or 17.70% of BBD stock, in the hands of institutional investors. The top three institutional holders of BBD stocks are: ABRDN PLC with ownership of 83,171,523, which is approximately -7.875% of the company’s market cap and around 35.30% of the total institutional ownership; SPRUCEGROVE INVESTMENT MANAGEMENT LTD, holding 73,498,991 shares of the stock with an approximate value of $213.15 million in BBD stocks shares; and BAILLIE GIFFORD & CO, currently with $165.54 million in BBD stock with ownership of nearly 3.521% of the company’s market capitalization.

Positions in Banco Bradesco S.A. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 106 institutional holders increased their position in Banco Bradesco S.A. [NYSE:BBD] by around 94,937,100 shares. Additionally, 123 investors decreased positions by around 104,648,923 shares, while 37 investors held positions by with 660,837,900 shares. The mentioned changes placed institutional holdings at 860,423,923 shares, according to the latest SEC report filing. BBD stock had 31 new institutional investments in for a total of 40,635,520 shares, while 28 institutional investors sold positions of 9,640,182 shares during the same period.

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