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

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Following these proceedings, JP Morgan downgraded its Banco Bradesco S.A. [BBD] rating to a Neutral from a an Overweight in a research note published on Friday. A number of analysts have revised their coverage, including Scotiabank’s analysts, who increased its forecast for the stock in early October from “a Sector perform” to “a Sector outperform”. Barclays began covering BBD with “an Overweight” recommendation on January 24, 2022. Itau BBA revised its rating on September 13, 2021. It rated BBD as “a Market perform” which previously was an “an Outperform”.


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Price Performance Review of BBD

On Friday, Banco Bradesco S.A. [NYSE:BBD] saw its stock jump 0.52% to $3.84. On the same session, the stock had its day’s lowest price of $3.81, but rose to a high of $3.94. Over the last five days, the stock has gained 7.07%. Banco Bradesco S.A. shares have risen nearly 24.75% since the year began. Nevertheless, the stocks have risen 25.38% over the past one year. While a 52-week high of $4.30 was reached on 05/31/22, a 52-week low of $2.92 was recorded on 07/14/22. SMA at 50 days reached $3.78, while 200 days put it at $3.72. A total of 49.41 million shares were traded, compared to the trading of 36.34 million shares in the previous session.

Levels Of Support And Resistance For BBD Stock

The 24-hour chart illustrates a support level at 3.79, which if violated will result in even more drops to 3.73. On the upside, there is a resistance level at 3.92. A further resistance level may holdings at 3.99. The Relative Strength Index (RSI) on the 14-day chart is 52.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 36.70%. Stochastics %K at 54.13% indicates the stock is a holding.

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 Jul 14, 2022, dropping by -14.21 million shares to a total of 31.92 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 46.13 million shares. There was a decline of -44.52%, which implies that there is a negative 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 76,362,691 shares, or roughly 1.43% of the outstanding BBD shares. In other words, the investor’s shares have fallen by -5,379,297 from its previous 13-F filing of 81741988.0. Additionally, Aberdeen Asset Managers Ltd. decreased -0.98% of its stake after which the total value it holdings stand at $276,736,780, while Baillie Gifford & Co. added 3.52% of its stake to hold $210.07 million in the firm. Over the last quarter, Goldman Sachs International purchased 32,390,644 shares of Banco Bradesco S.A., while Lazard Asset Management LLC bought -6,759,442 shares. At present, J.O. Hambro Capital Management Lt is holding 37,006,789 shares valued at $136.18 million. Templeton Asset Management Ltd. owned 34,647,624 shares of the company at the time of its most recent 13F filing, worth $127.5 million.

According to FactSet, Banco Bradesco S.A.’s share price will average $5.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 43.98 percent from its previous closing price of $3.82. Analysts expect Banco Bradesco S.A. stock to reach the higher price of $6.00, while the lowest price estimate is $5.00. However, 3 analysts have rated BBD stock as an Overweight in their predictions for 2022.

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