Sunday, June 26, 2022

Investing in BBD (Banco Bradesco S.A.) Is Getting More Attractive

Barclays initiated its Banco Bradesco S.A. [BBD] rating to an Overweight in a research note published on Tuesday, January 24, 2022; the price target was $5. PT values the company’s stock at a premium of 28.4 to its Tuesday closing price. A number of analysts have revised their coverage, including Itau BBA’s analysts, who decreased its forecast for the stock in mid September from “an Outperform” to “a Market perform”. Citigroup also remained covering BBD and has increased its forecast on October 27, 2020 with a “Buy” recommendation from previously “Neutral” rating. Citigroup revised its rating on May 28, 2020. It rated BBD as “a Neutral” which previously was an “a Buy”.


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Price Performance Review of BBD

On Tuesday, Banco Bradesco S.A. [NYSE:BBD] saw its stock jump 0.85% to $3.58. On the same session, the stock had its day’s lowest price of $3.56, but rose to a high of $3.64. Over the last five days, the stock has lost -1.65%. Banco Bradesco S.A. shares have risen nearly 15.57% since the year began. Nevertheless, the stocks have fallen -25.77% over the past one year. While a 52-week high of $4.89 was reached on 05/31/22, a 52-week low of $2.94 was recorded on 01/05/22. SMA at 50 days reached $3.87, while 200 days put it at $3.61. A total of 43.66 million shares were traded, compared to the trading of 23.6 million shares in the previous session.

Levels Of Support And Resistance For BBD Stock

The 24-hour chart illustrates a support level at 3.55, which if violated will result in even more drops to 3.51. On the upside, there is a resistance level at 3.63. A further resistance level may holdings at 3.67. The Relative Strength Index (RSI) on the 14-day chart is 35.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.08%. Stochastics %K at 10.92% indicates the stock is a buying.

How much short interest is there in Banco Bradesco S.A.?

A steep rise in short interest was recorded in Banco Bradesco S.A. stocks on Apr 28, 2022, growing by 6.47 million shares to a total of 42.72 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 36.25 million shares. There was a rise of 15.15%, which implies that there is a positive sentiment for the stock.

Banco Bradesco S.A. [BBD] – Who Are The Largest Shareholders?

In filings from Sprucegrove Investment Management, it is revealed that the company now owns 81,741,988 shares, or roughly 1.53% of the outstanding BBD shares. In other words, the investor’s shares have fallen by -6,161,980 from its previous 13-F filing of 87903968.0. Additionally, Aberdeen Asset Managers Ltd. decreased -0.75% of its stake after which the total value it holdings stand at $322,760,207, while Baillie Gifford & Co. added 24.45% of its stake to hold $234.96 million in the firm. Over the last quarter, Lazard Asset Management LLC sold -11,201,230 shares of Banco Bradesco S.A., while Templeton Asset Management Ltd. sold -1,941,141 shares. At present, Fisher Asset Management LLC is holding 25,766,814 shares valued at $109.51 million. BlackRock Fund Advisors owned 24,507,972 shares of the company at the time of its most recent 13F filing, worth $104.16 million.

According to FactSet, Banco Bradesco S.A.’s share price will average $4.28 in the next year, based on opinions of analysts polled by the firm. This is up nearly 40.85 percent from its previous closing price of $3.55. Analysts expect Banco Bradesco S.A. stock to reach the higher price of $5.50, while the lowest price estimate is $2.35.

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