Causeway Capital Management LLC recently announced the acquisition of new stake in Banco Bradesco S.A. ADR (NYSE:BBD). The institutional investor has increased its shareholding in the Financial company by 43.44% to 64.07 million shares with purchase of 19.4 million shares. This fresh investment now brings its stake to 1.21% valued currently at $213.36 million. In addition, Fisher Asset Management LLC raised its holdings by 14.22 million to 39.08 million shares. And Oaktree Capital Management LP has lifted its position by 3.01% or 0.93 million shares – to 31.74 million shares.
With over 17.52 million Banco Bradesco S.A. ADR (BBD) shares trading Friday and a closing price of $3.47 on the day, the dollar volume was approximately $60.79 million. The shares have shown a positive half year performance of 6.41% and its price on 12/22/23 gained nearly 1.73%. Currently, there are 5.31B common shares owned by the public and among those 5.31B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for BBD have a consensus price objective of $17.69. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $14.70. The average price target is 16.39% above its recent price level and an upside to the estimated low will see the stock gain 76.39% over that period. But an upside of 83.48% will see the stock hit the forecast high price target while median target price for the stock is $17.50.
The top 3 mutual fund holders in Banco Bradesco S.A. ADR are Vanguard International Value Fund, BlackRock Emerging Markets Fund I, and Baillie Gifford Emerging Markets. Vanguard International Value Fund owns 28.83 million shares of the company’s stock, all valued at over $96.0 million. Baillie Gifford Emerging Markets now owns shares totaling to 0.37% of the shares outstanding.
Shares of Banco Bradesco S.A. ADR (NYSE: BBD) opened at $3.44, up $0.03 from a prior closing price of $3.41. However, the script later moved the day high at 3.4900, up 1.73%. The company’s stock has a 5-day price change of 1.73% and 28.10% over the past three months. BBD shares are trading 34.18% year to date (YTD), with the 12-month market performance up to 36.07% higher. It has a 12-month low price of $2.20 and touched a high of $3.51 over the same period. BBD has an average intraday trading volume of 16.61 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 6.20%, 14.76%, and 18.73% respectively.
Institutional ownership of Banco Bradesco S.A. ADR (NYSE: BBD) shares accounts for 17.82% of the company’s 5.31B shares outstanding. Mutual fund holders own 10.14%, while other institutional holders and individual stakeholders account for 7.74% and — respectively.
It has a market capitalization of $18.43B and a beta (3y monthly) value of 1.06. The stock’s trailing 12-month PE ratio is 13.69, while the earnings-per-share (ttm) stands at $0.25. The company has a PEG of 8.56 and the debt-to-equity ratio at 3.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.02% over the week and 2.19% over the month.
Analysts forecast that Banco Bradesco S.A. ADR (BBD) will achieve an EPS of $0.09 for the current quarter, $0.09 for the next quarter and $0.46 for 2024. The lowest estimate earnings-per-share for the quarter is $0.09 while analysts give the company a high EPS estimate of $0.09. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.87%, and 29.49% over the next financial year. EPS should grow at an annualized rate of 1.60% over the next five years, compared to -2.37% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Banco Bradesco S.A. ADR (BBD) as a “Strong Buy” at a consensus score of 1.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 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. Jefferies stated their Buy rating for the stock in a research note on October 16, 2023, with the firm’s price target at $3.50.
