Banco Bradesco S.A. (NYSE:BBD) is trending higher in the market today as the company shares are trading 3.63% or 0.31 points down from last closing price of $8.55, reaching $8.24 at last check. Any clue why there is so much of action in the BBD stock? The share price has dropped in 4 of the last 5 days and is up 1.26% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -15,000,000 shares, and in total 5.574 million shares valued at $45.931 million were seen changing hands compared with 20.542 million shares valued at $175.632 million recorded at the previous session. You should take into consideration that a falling volume on lower prices shows the bearish trend but this is an early indication which means that the BBD stock is near its bottom.
Banco Bradesco S.A. (BBD) shares have notched a 3-month gain of about 1.26%, but has still advanced 8.1% year to date. By comparison, the stock added 11.97% over the past 12 months, while it jumped 9.75% over the 1 month. The company’s market cap is around $68.68B, with its short interest ratio standing at 1.43%.
In the current trading session for BBD, the stock witnessed two major price actions, it rose to a high of $8.36 and was down as much as $8.23 at one point. The high recorded is very low when compared to their 52-week high which is $7.06. The 52-week high is now at -19.15 distance from current price. Their recent low of $10.21 represents a 16.93% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for BBD is $10.66, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
BBD‘s last price was down -5.53% as compared to the average trading price of 50 days recorded at $8.72 while enlarging the period to 200 trading days, the average closing price was $8.1. At present, there are 8.03 billion in the total number of common shares owned by the public and among those 5.76 billion shares have been available to trade. The percentage of shares being held by the company management was 0.02% while institutions stake was 21.26%. The company has generated negative returns on equity over the last 12 months (0%). It managed to keep its gross profit margin at 0% over the past 12 months.
When assessing the full upside of the BBD stock, there is another set of technicals that should be looked into and considered. Its -3.35% decline from moving average of $8.53 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of 0 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Banco Bradesco S.A. — 1 analysts rate the stock as a buy with another 0 rating it strong buy. There are 0 analysts who maintain a hold rating for the stock, with 3 giving it a sell rating. Analysts arrived at a 12-month price target of $9.58 on shares of Banco Bradesco S.A. (NYSE:BBD), which corresponds to 16.55% upside potential than its current market price of $8.24 and implies potential despite the recent drop in the price. However, their current target price has fallen from $9.58 a month ago and is down handily from the consensus target of $9.58 a quarter ago.
In the last five years, the EPS of the company has been roughly -3.46%. Though the percentage looks disappointing, extra tailwinds are emerging as looking out over a next 5-year period, with analysts estimating that their earnings will increase annually by 17.3%. The revenue of the company has retreated at an average annualized rate of about 0 over the last five years. The company recently recorded an increase of 67.3%, but this figure is rather attractive.
Let’s briefly check the hedge fund interest towards BBD stock. Banco Santander S.A. added position in the company after it grew 24.4% or 614,619 shares of its common stock. The hedge fund now owns 764,586 shares worth $6,300,189, SEC documents show. Northwestern Mutual Investment Management Company LLC shored up assets in the stock as 452313.2 shares have been purchased, increasing its stake by 6% to 479,452 shares which are currently valued at $3,950,684. In addition, Eqis Capital Management Inc. recently reported that it now owns 32,201 shares making a total of $265,336 based on the recent price. This refelects a change of 21.4% in their ownership.