Handle With Care: Banco Bradesco S.A. (NYSE: BBD)

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Harding Loevner LP recently announced the acquisition of new stake in Banco Bradesco S.A. (NYSE:BBD). The institutional investor has increased its shareholding in the Financial company by 4.06% to 52.13 million shares with purchase of 2.04 million shares. This fresh investment now brings its stake to 1.18% valued currently at $219.98 million. In addition, Sprucegrove Investment Management.. raised its holdings by 5.86 million to 35.76 million shares. And Baillie Gifford & Co. has lifted its position by 7.91% or 2.32 million shares – to 31.69 million shares.

With over 18.22 million Banco Bradesco S.A. (BBD) shares trading Monday and a closing price of $3.77 on the day, the dollar volume was approximately $68.69 million. The shares have shown a positive weekly performance of 0.27% and its price on 08/31/20 lost nearly -4.80%. Currently, there are 8.84B common shares owned by the public and among those 6.34B shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for BBD have a consensus price objective of $5.56. The analysts have set the share’s price value over the next 12 months at a high of $6.91 and a low of $4.39 should the stock experience a downside. Incidentally, analysts’ outlook for the Banco Bradesco S.A. stock is 1.90 for the next 12 months. The average price target is 40.91% above its last price level and an upside to the estimated low will see the stock gain 14.12% over that period. But an upside of 45.44% will see the stock hit the forecast high price target while mean target price for the stock is $5.45.

The top 3 mutual fund holders in Banco Bradesco S.A. are Harding Loevner Institutional Eme, Aberdeen Emerging Markets Fund, and T Rowe Price International Stock. Harding Loevner Institutional Eme owns 17.1 million shares of the company’s stock, all valued at over $72.16 million. The company bought an additional 1.72 million shares recently to bring their total holdings to about 0.39% of the shares outstanding. T Rowe Price International Stock bought 0.19 million shares to bring its total holdings to over 14.66 million shares at a value of $61.88 million. T Rowe Price International Stock now owns shares totaling to 0.33% of the shares outstanding.

Shares of Banco Bradesco S.A. (NYSE: BBD) opened at $3.89, down -$0.07 from a prior closing price of $3.96. However, the script later closed the day at $3.77, down -4.80%. The company’s stock has a 5-day price change of 0.27% and -4.86% over the past three months. BBD shares are trading -53.26% year to date (YTD), with the 12-month market performance down to -45.05% lower. It has a 12-month low price of $2.67 and touched a high of $8.40 over the same period. Currently, 18.22 million shares have been traded, compared to an average intraday trading volume of 21.23 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.04%, -6.91%, and -26.71% respectively.

Institutional ownership of Banco Bradesco S.A. (NYSE: BBD) shares accounts for 20.17% of the company’s 8.84B shares outstanding. Mutual fund holders own 10.51%, while other institutional holders and individual stakeholders account for 7.46% and — respectively.

It has a market capitalization of $33.31B. The stock’s trailing 12-month PE ratio is 5.39, while the earnings-per-share (ttm) stands at $0.70. The company has a PEG of 3.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.49% over the week and 3.56% over the month.

Analysts forecast that Banco Bradesco S.A. (BBD) will achieve an EPS of $0.09 for the current quarter, $0.11 for the next quarter and $0.52 for 2021. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -43.20%, and 23.80% over the next financial year. EPS should grow at an annualized rate of 1.60% over the next five years, compared to -2.51% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Banco Bradesco S.A. (BBD) as a “Strong Buy” at a consensus score of 1.90. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 2 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the BBD, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on May 28, 2020, with the firm’s price target at. Goldman coverage for the Banco Bradesco S.A. (BBD) stock in a research note released on April 06, 2020 offered a Buy rating with a price target of. BofA/Merrill was of a view on January 21, 2020 that the stock is Neutral, while Morgan Stanley gave the stock Overweight rating on August 07, 2019, issuing a price target of. Goldman on their part issued Sell rating on June 10, 2019.

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