Baillie Gifford & Co. 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 3.52% to 57.08 million shares with purchase of 1.94 million shares. This fresh investment now brings its stake to 1.07% valued currently at $216.35 million. In addition, J.O. Hambro Capital Management Lt raised its holdings by 22.18 million to 37.01 million shares. And Templeton Asset Management Ltd. has lifted its position by 5.56% or 1.93 million shares – to 36.58 million shares.
With over 74.55 million Banco Bradesco S.A. (BBD) shares trading Friday and a closing price of $2.90 on the day, the dollar volume was approximately $216.2 million. The shares have shown a negative half year performance of -26.95% and its price on 11/18/22 gained nearly 1.40%. Currently, there are 5.32B common shares owned by the public and among those 5.32B 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: 3 analysts who have offered their price forecasts for BBD have a consensus price objective of $4.35. The analysts have set the share’s price value over the next 12 months at a high of $5.20 and a low of $3.50. The average price target is 34.68% above its recent price level and an upside to the estimated low will see the stock gain 17.14% over that period. But an upside of 44.23% will see the stock hit the forecast high price target while median target price for the stock is $4.35.
The top 3 mutual fund holders in Banco Bradesco S.A. are Vanguard International Value Fund, Templeton Emerging Markets Invest, and Baillie Gifford Emerging Markets. Vanguard International Value Fund owns 32.48 million shares of the company’s stock, all valued at over $123.1 million. The company bought an additional 16.18 million shares recently to bring their total holdings to about 0.61% of the shares outstanding. Baillie Gifford Emerging Markets sold 1.0 shares to bring its total holdings to over 19.95 million shares at a value of $75.61 million. Baillie Gifford Emerging Markets now owns shares totaling to 0.37% of the shares outstanding.
Shares of Banco Bradesco S.A. (NYSE: BBD) opened at $2.92, up $0.06 from a prior closing price of $2.86. However, the script later moved the day high at 2.9400, up 1.40%. The company’s stock has a 5-day price change of 1.75% and -21.19% over the past three months. BBD shares are trading -5.79% year to date (YTD), with the 12-month market performance down to -12.74% lower. It has a 12-month low price of $2.72 and touched a high of $4.30 over the same period. BBD has an average intraday trading volume of 38.12 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 -14.88%, -20.44%, and -21.01% respectively.
Institutional ownership of Banco Bradesco S.A. (NYSE: BBD) shares accounts for 17.70% of the company’s 5.32B shares outstanding. Mutual fund holders own 7.42%, while other institutional holders and individual stakeholders account for 9.29% and — respectively.
It has a market capitalization of $28.24B and a beta (3y monthly) value of 0.84. The stock’s trailing 12-month PE ratio is 3.58, while the earnings-per-share (ttm) stands at $0.81. The company has a PEG of 2.24 and the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.39% over the week and 4.25% over the month.
Analysts forecast that Banco Bradesco S.A. (BBD) will achieve an EPS of $0.13 for the current quarter, $0.13 for the next quarter and $0.56 for 2023. The lowest estimate earnings-per-share for the quarter is $0.12 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was $0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 46.60%, and 21.88% over the next financial year. EPS should shrink at an annualized rate of 1.60% over the next five years, compared to 5.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Banco Bradesco S.A. (BBD) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Barclays coverage for the Banco Bradesco S.A. (BBD) stock in a research note released on November 15, 2022 offered a Equal Weight rating with a price target of $3.50. Scotiabank on their part issued Sector Outperform rating on October 05, 2022.