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Banco Bradesco SA
(NYSE:BBD)
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Rating:56Neutral
Price Target:
$4.00
â–²(23.08% Upside)
Action:Reiterated
Date:10/06/26
The score is held back primarily by weak cash-flow generation and elevated, worsening leverage, which reduce financial flexibility. Offsetting this, the stock shows a strong technical uptrend (despite overbought signals), attractive valuation (low P/E and high dividend yield), and a generally constructive earnings call with reaffirmed guidance, cost discipline, and planned capital strengthening.
Positive Factors
Recurring profit and revenue growth
Sustained earnings improvement and double-digit revenue growth indicate strengthening operating momentum rather than a single-period gain. Continued progress across interest income, fees and insurance can support recurring profitability, improve reinvestment capacity and reinforce Bradesco’s position across Brazilian banking segments.
Negative Factors
Elevated and worsening leverage
The sharp increase in debt relative to equity leaves Bradesco less flexible if funding costs rise or credit conditions weaken. Although return on equity remains solid, achieving it alongside higher leverage increases sensitivity to balance-sheet stress and may constrain future capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring profit and revenue growth
Sustained earnings improvement and double-digit revenue growth indicate strengthening operating momentum rather than a single-period gain. Continued progress across interest income, fees and insurance can support recurring profitability, improve reinvestment capacity and reinforce Bradesco’s position across Brazilian banking segments.
Read all positive factors
Banco Bradesco SA (BBD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$43.24B
Dividend Yield7.57%
Average Volume (3M)40.38M
Price to Earnings (P/E)8.1
Beta (1Y)0.45
Revenue Growth32.37%
EPS Growth27.68%
CountryUS
Employees82,095
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.26
Shares Outstanding5,590,117,700
10 Day Avg. Volume53,060,128
30 Day Avg. Volume40,382,026
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)1.08
Price to Sales (P/S)0.62
P/FCF Ratio0.75
Enterprise Value/Market Cap3.93
Enterprise Value/Revenue0.50
Enterprise Value/Gross Profit1.82
Enterprise Value/Ebitda5.15
Forecast
1Y Price Target
$4.05Price Target Upside24.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)0.52
Revenue Forecast (FY)$29.73B
Banco Bradesco SA Business Overview & Revenue Model
Company Description
Banco Bradesco S.A., along with its affiliated entities, functions as a prominent financial institution delivering a broad spectrum of banking and financial services. These offerings cater to individual clients, corporate organizations, and variou...
How the Company Makes Money
Bradesco makes money primarily by earning interest and fees from its banking and financial services operations, supplemented by revenue from insurance- and asset-management-related activities conducted through subsidiaries/affiliates.
1) Net inte...
Banco Bradesco SA Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 10, 2027
Earnings Call Sentiment Positive
The call presented multiple clear strengths: robust net income and ROAE that beat expectations, double‑digit revenue and loan growth concentrated in secured/guaranteed lines, market leadership in government‑guaranteed origination and aviation leasing, resilient insurance results, improved NII (including a surprising market NII contribution), ongoing digital/AI progress, and a planned BRL 10 billion capital raise to strengthen tangible capital. Offsetting these positives are timing and provisioning pressures tied to origination peaks (FGI/FGO guarantee claim periods), a few wholesale idiosyncratic delinquency events (e.g., John Deere Bank‑related movements), legacy credit card delinquencies, modest fee pressure in current accounts and investor questions on the capital recognition timeline. Management framed most credit and provisioning pressures as temporary and linked to production timing, while emphasizing portfolio quality and risk discipline. On balance, highlights materially outweigh the lowlights, with management confidence in revenue diversification, capital strengthening and continued controlled growth.Positive Updates
Strong Net Income and ROAE Beat
Net income of BRL 7.1 billion in Q2 2026, up 16.2% year‑on‑year and 3.5% quarter‑on‑quarter; ROAE of 16.2%, above market expectations.
Negative Updates
Higher Cost of Risk and Provisioning Pressures
Cost of risk increased in absolute terms and remained a material item (management noted cost of risk at ~3.5% proportionally); pressure driven by FGI/FGO guarantee claim timing and portfolio growth requiring higher provisions as production peaks mature.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Net Income and ROAE Beat
Net income of BRL 7.1 billion in Q2 2026, up 16.2% year‑on‑year and 3.5% quarter‑on‑quarter; ROAE of 16.2%, above market expectations.
Read all positive updates
Company Guidance
The management reiterated that it expects to deliver the full-year guidance around the midpoint-to-top of the ranges, driven by continued double-digit revenue growth (total revenue BRL 37.6bn, +10.3% YoY) and step‑by‑step net income improvement; key guideposts include a roughly flat NIM near 9% (9.1% in Q1 and Q2), NII net of provisions slightly below the center of guidance, fee & commission resilience (BRL 10.5bn) and insurance growth targeted at 6–8% (management expects to finish near the midpoint despite a strong H1 +14%/H1 CAGR), while operating expenses are being managed toward the floor of the guidance (opex +3.4% YoY). On credit metrics they flagged a temporary FGI/FGO provisioning timing effect (FGI/FGO origination +64.5% YoY retail/SME, +52.7% QoQ origination), cost of risk broadly stable at ~3.5% (client NII net of provisions ~4.5%), over‑90 NPL broadly flat (+10 bps) with Stage‑3 up ~10 bps and Stage‑2 ~+0.6 pts in pockets, and continued focus on secured, higher RAR lines (loan book +11.6% YoY to BRL 1.137bn, SME growth BRL 37bn). Capital guidance includes a BRL 10bn raise (BRL 8bn anchored) and recognition from the Bradsaúde transaction (~140bps pending), positioning common equity/tier ratios comfortably above current levels (management cited targets in the c.13–15% area for CET1/Tier‑1).Banco Bradesco SA Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
48
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 341.33B | 311.66B | 249.61B | 254.71B | 239.65B | 157.55B |
| Gross Profit | 93.45B | 89.14B | 78.69B | 68.16B | 82.50B | 93.07B |
| EBITDA | 32.98B | 28.09B | 23.63B | 16.73B | 30.28B | 38.63B |
| Net Income | 24.32B | 23.67B | 17.25B | 14.25B | 21.22B | 23.17B |
Balance Sheet | ||||||
| Total Assets | 2.47T | 2.33T | 2.07T | 1.93T | 1.79T | 1.68T |
| Cash, Cash Equivalents and Short-Term Investments | 271.85B | 254.98B | 476.88B | 522.98B | 367.61B | 394.23B |
| Total Debt | 805.19B | 793.84B | 689.53B | 631.89B | 571.92B | 238.94B |
| Total Liabilities | 2.29T | 2.15T | 1.90T | 1.76T | 1.63T | 1.53T |
| Stockholders Equity | 181.28B | 178.42B | 168.41B | 166.33B | 159.53B | 149.78B |
Cash Flow | ||||||
| Free Cash Flow | 112.70B | 258.03B | -93.62B | -9.32B | 40.36B | -106.41B |
| Operating Cash Flow | 119.07B | 263.05B | -91.33B | -177.63M | 49.77B | -102.00B |
| Investing Cash Flow | -268.22B | -437.05B | -5.01B | 83.61B | -17.78B | -19.31B |
| Financing Cash Flow | 153.25B | 161.17B | 117.88B | -23.06B | 21.92B | -1.61B |
Banco Bradesco SA Technical Analysis
Positive
3.25
Price Trends
3.53
Positive
3.48
Positive
3.57
Positive
Market Momentum
0.16
Positive
58.76
Neutral
25.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BBD, the sentiment is Positive. The current price of 3.25 is below the 20-day moving average (MA) of 3.89, below the 50-day MA of 3.53, and below the 200-day MA of 3.57, indicating a bullish trend. The MACD of 0.16 indicates Positive momentum. The RSI at 58.76 is Neutral, neither overbought nor oversold. The STOCH value of 25.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BBD.
Banco Bradesco SA Risk Analysis
Banco Bradesco SA disclosed 42 risk factors in its most recent earnings report. Banco Bradesco SA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Banco Bradesco SA Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $15.63B | 13.86 | 22.63% | 4.49% | 7.69% | 9.88% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $20.11B | 16.16 | 21.49% | 5.52% | 3.94% | 3.40% | |
66 Neutral | $2.72B | 14.47 | 8.15% | 3.53% | 5.91% | -32.85% | |
64 Neutral | $4.69B | 15.83 | 7.73% | 7.58% | 4.03% | -24.70% | |
60 Neutral | $21.05B | 28.70 | 11.81% | 2.69% | 20.73% | 27.11% | |
56 Neutral | $43.24B | 8.08 | 13.60% | 5.90% | 32.37% | 27.68% |
* Financial Sector Average
BBD
Banco Bradesco SA
4.05
0.93
29.72%
BCH
Banco De Chile
39.64
7.77
24.36%
BMA
Banco Macro SA
64.33
11.34
21.41%
BSBR
Banco Santander Brasil
5.67
0.58
11.37%
BSAC
Banco Santander Chile
32.98
5.93
21.94%
BBAR
Banco BBVA Argentina
12.73
3.41
36.63%
Banco Bradesco SA Corporate Events
Banco Bradesco Details September 2026 Insider Share Transactions and Stable Control Holdings
Oct 15, 2026
In a Form 6-K filed for October 2026, Banco Bradesco reported that its controlling shareholders maintained their positions in common and non-voting shares during September 2026, with no changes between opening and closing balances and no securitie...
Banco Bradesco Discloses BlackRock Crossing 10% Threshold in Preferred Shares
Oct 14, 2026
Banco Bradesco S.A., a major Brazilian private bank with extensive retail and corporate operations, continues to attract global institutional capital through its preferred and common share classes and American Depositary Receipts. The bank’s...
Banco Bradesco Details Allocation of Remaining Shares in BRL 8 Billion Capital Increase
Sep 17, 2026
On September 4, 2026, Banco Bradesco’s preemptive rights period for its ongoing capital increase closed with shareholders subscribing 402,471,777 new common and preferred shares, leaving 202,380,976 shares still unsubscribed. The remaining c...
Banco Bradesco Reports Stable Insider Holdings and Limited Executive Trading for August 2026
Sep 10, 2026
In a Form 6-K for September 2026, Banco Bradesco reported that in August 2026 there were no securities or derivatives transactions involving the controlling shareholder group or their family dependants, with opening and closing balances unchanged....
Banco Bradesco Clarifies Position on Rumored Financing for Amil Acquisition
Aug 26, 2026
Banco Bradesco stated on August 25, 2026, that it has not executed any binding document or agreement to finance Advent and Bain Capital in a potential acquisition of health insurer Amil, responding to questions from Brazil’s stock exchange B...
Banco Bradesco Discloses Stable Insider Positions and July 2026 Trading by Executives
Aug 11, 2026
In a Form 6-K filed for August 2026, Banco Bradesco reported that in July 2026 there were no transactions in securities or derivatives involving its controlling shareholders, their family dependants, or the board of directors, and that their holdi...
Banco Bradesco Reports 1H26 Results and Advances AI-Driven Transformation
Aug 6, 2026
Banco Bradesco S.A. reported its consolidated financial statements for the first half of 2026 under IFRS, highlighting a Brazilian economy that grew modestly and remained under restrictive monetary policy, with the Selic rate ending the semester a...
Banco Bradesco Extends Profit Growth Streak with Strong 2Q26 Results and Loan Expansion
Aug 6, 2026
Banco Bradesco reported that in the second quarter of 2026 its recurring net income reached R$7.1 billion, up 16.2% year on year and marking a tenth consecutive quarter of improvement, supported by resilient revenues of R$37.6 billion and controll...
Banco Bradesco Files August 2026 Form 6-K as Foreign Private Issuer
Aug 6, 2026
In August 2026, Banco Bradesco S.A., a Brazilian foreign private issuer, filed a Form 6-K with the U.S. Securities and Exchange Commission for that month, confirming it reports under Form 20-F and does not rely on Rule 12g3-2(b) for disclosure. Th...
Banco Bradesco Launches Up to R$10 Billion Capital Increase with Rights Offering
Jul 30, 2026
On July 29, 2026, Banco Bradesco S.A.’s board approved a share capital increase of up to R$10 billion through the private subscription of 302.9 million new common shares and 302.0 million new preferred shares, all within the authorized capit...
Bradesco Launches BRL 10 Billion Capital Increase to Fund Strategic Investments
Jul 30, 2026
On July 29, 2026, Bradesco’s Board of Directors approved a capital increase of up to BRL 10 billion via private subscription of new common and preferred shares, with a minimum subscription threshold of BRL 8 billion. The offering, priced at ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.