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Banco Bradesco S.A.NYSE:BBD Stock Report

Market Cap US$34.2b
Share Price
n/a
1Y19.2%
7D0.9%
1D1.8%
Portfolio Value
​
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Banco Bradesco S.A.

NYSE:BBD Stock Report

Market Cap: US$34.2b

Banco Bradesco (BBD) Stock Overview

Provides various banking products and services in Brazil and internationally. More details

BBD fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance3/6
Financial Health3/6
Dividends5/6

Rewards

Trading at 44.9% below our estimate of its fair value

Earnings are forecast to grow 8.2% per year

Earnings grew by 24.1% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Unstable dividend track record

Large one-off items impacting financial results


BBD Community Fair Values

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Banco Bradesco S.A. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Banco Bradesco
Historical stock prices
Current Share PriceR$3.48
52 Week HighR$4.30
52 Week LowR$2.73
Beta0.25
1 Month Change4.50%
3 Month Change-13.65%
1 Year Change19.18%
3 Year Change0.29%
5 Year Change-20.58%
Change since IPO336.74%

Recent News & Updates

Seeking Alpha • Jul 01

Bradesco: The ROAE Spread Is Turning Positive Again

Summary Banco Bradesco S.A.'s pullback reopens the thesis, as the operating recovery looks more intact than the stock’s recent move suggests. ROAE is back above the Selic hurdle, turning the profitability spread positive again after years of compression. NII momentum and a better secured-credit mix suggest Bradesco’s recovery is being built on quality, not just loan growth. The high-single-digit dividend/JCP yield pays investors to wait while ROAE moves toward the high teens. Read the full article on Seeking Alpha
Seeking Alpha • Feb 21

Banco Bradesco's 16% Earnings Yield Is Not So Attractive Amid Its Challenges

Summary Bradesco's 4Q24 results show lagging loan growth, NII, and rising expenses, with key retail categories like credit cards and current accounts shrinking. Despite a 16% earnings yield, Bradesco's valuation is not attractive compared to peers like Santander Brasil and Banco do Brasil, which offer better growth and efficiency. Loan book grew 12% YoY, but the mix favored riskier segments; NII grew only 5.4% YoY, lagging behind loan growth. Operational expenses grew 9% YoY, outpacing revenue growth, continuing a negative trend and justifying a Hold rating on BBD stock. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Jul 01

Bradesco: The ROAE Spread Is Turning Positive Again

Summary Banco Bradesco S.A.'s pullback reopens the thesis, as the operating recovery looks more intact than the stock’s recent move suggests. ROAE is back above the Selic hurdle, turning the profitability spread positive again after years of compression. NII momentum and a better secured-credit mix suggest Bradesco’s recovery is being built on quality, not just loan growth. The high-single-digit dividend/JCP yield pays investors to wait while ROAE moves toward the high teens. Read the full article on Seeking Alpha
Seeking Alpha • Feb 21

Banco Bradesco's 16% Earnings Yield Is Not So Attractive Amid Its Challenges

Summary Bradesco's 4Q24 results show lagging loan growth, NII, and rising expenses, with key retail categories like credit cards and current accounts shrinking. Despite a 16% earnings yield, Bradesco's valuation is not attractive compared to peers like Santander Brasil and Banco do Brasil, which offer better growth and efficiency. Loan book grew 12% YoY, but the mix favored riskier segments; NII grew only 5.4% YoY, lagging behind loan growth. Operational expenses grew 9% YoY, outpacing revenue growth, continuing a negative trend and justifying a Hold rating on BBD stock. Read the full article on Seeking Alpha
Seeking Alpha • Nov 06

Bradesco Still Shows Challenges, And Lags The Market, Only Fairly Valued

Summary Banco Bradesco's 3Q24 results show declining market share, increasing costs, and shrinking margins. Despite this, net income recovered due to lower delinquencies. The bank's loan book grew 8% YoY, but it's losing share in key categories like personal loans, credit cards, and deposits. Lower net interest margins and higher operating expenses are concerning, though improved loan quality has reduced non-performing loans and allowances. Despite challenges, Bradesco's valuation is historically cheap, offering a speculative opportunity with potential for a 14% yield on a $24 billion market cap. Read the full article on Seeking Alpha
Seeking Alpha • Sep 27

Bradesco Q2: Good Trends, But There Is Still Room For Improvement!

Summary Bradesco's 2Q24 results showed improvement in NPLs and margins, but the bank struggles to meet its guidance and improve ROAE. Loan portfolio growth was below guidance, despite a 5% YoY increase, highlighting challenges in achieving annual growth targets. Net interest income and insurance revenues showed positive trends, but overall expenses increased, impacting profitability. Read the full article on Seeking Alpha
Seeking Alpha • Nov 15

Banco Bradesco: Q3 Earnings, The Bottom Is In (Rating Upgrade)

Summary Bradesco's Q3 results showed a mix of positive and negative aspects, including a reduction in delinquency but concerns about clients' net interest income. The bank's Return on Equity (ROE) remains the lowest among domestic peers. Despite an attractive valuation, no short-term triggers were identified to support a consistent re-pricing of the stock. Delinquency improvements were noted, but concerns about the Net Interest Income (NII) with clients arose due to a decline attributed to an unfavorable product mix. Upgrading from bearish to neutral due to recent stock decline, considering $3 target price, Bradesco's dividend potential, and fair valuation. Read the full article on Seeking Alpha
Seeking Alpha • Oct 10

Banco Bradesco: Macro Woes Leave Shares Undervalued

Summary Banco Bradesco is facing no shortage of headwinds right now, with pressure on net interest income, sluggish fee income growth and high provisioning expenses chief among them. Net interest income will get some support now that rates in Brazil are tentatively heading lower, and I'm hopeful that better-than-expected economic performance will help with credit quality. These shares look cheap relative to their recent historical marks, though a combination of macro, Bradesco-specific, and general emerging market risks are things to consider. Read the full article on Seeking Alpha
Seeking Alpha • Jul 26

Bradesco: Lagging Behind Brazil's Top Banks

Summary Bradesco, one of Brazil's largest private banks, is expected by analysts to report weaker financial results due to high provisions and a likely increase in delinquencies amid a challenging macroeconomic situation in Brazil. The bank's misguided lending strategy in recent years, including an excessive provision to cover the debts of troubled companies, has put pressure on its financial results and return indicators. Despite some company improvements, Wall Street expects Bradesco to continue facing pressure from its credit portfolio mix, mainly due to exposure to low-income retail customers and old loans, leading to substantial credit provision expenses throughout 2023. Read the full article on Seeking Alpha
Seeking Alpha • Feb 16

Bradesco: Cleaning Out The Closet

Summary Bradesco misses the mark in its latest quarterly earnings report on massive provisions for the Americanas scandal. The near-term guidance has also been revised lower amid the asset quality overhang. With the bank set to earn below its cost of equity for the foreseeable future, it’s hard to justify a re-rating anytime soon. Brazilian commercial bank Bradesco (BBDO) recently printed a massive earnings miss and guided down, with recurring earnings declining ~78% YoY on provisioning related to the Lojas Americanas (LOAMF) scandal. While some degree of write-down was expected heading into earnings, the extent of the impact surpassed even the most bearish expectations. Not only is the Americanas provisioning at 100%, but the updated FY23 guide implies an ~12% ROE - for context, Bradesco sustained mid-teens % ROEs even through the worst of the COVID impact. Given the bank's outsized exposure to Americanas vs. the other major Brazilian banks, expect more negative disclosures in the coming months. Alongside a higher for longer rate environment and the prospect for an economic slowdown in FY23/FY24, it's hard to see much upside to Bradesco's earnings power this year. The <1x P/Book valuation is optically cheap, but the discount is warranted, in my view, given the prospect of ROE running below the cost of equity through the coming quarters. Pending more comprehensive post-earnings adjustments by the Street (likely in the next few weeks), I wouldn't time a bottom just yet. Data by YCharts Big Miss as Bradesco Clears Out its Lojas Americanas Exposure Expectations were low heading into Q4 - recall that the bank's Q3 2022 results had surprised to the downside, not only due to a jump in provisions but also management commentary indicating that Q4 could see even more deterioration. And with expected breakeven for market net interest income also pushed out to H2 2023, many had earmarked Q3 as the 'kitchen sinking' quarter. Yet, Bradesco's Q4 still disappointed, as net income of R$1.6bn implied a ~4% ROE (vs. the current Brazilian risk-free rate of 13-14%). Some context is needed, though - a large chunk of the miss was down to outsized 100% provision for the bank's Americanas exposure. But excluding the one-off Americanas P&L hit, net income of R$4.26bn would still have equated to a below par ~10% ROE, reflecting fundamental weakness as well. The only silver lining was in Bradesco's insurance segment (+22% YoY), though the higher cost of risk, fee income weakness, and continued opex pressure more than offset any strength here. Bradesco Asset Quality Overhang Adds to P&L Woes Provisions were the key highlight this quarter, and unsurprisingly, net loan loss provisions were up a massive ~250% YoY to R$14.9bn due to a wholesale R$4.9bn provision for Americanas. Even breaking out the Americanas contribution, though, Bradesco's asset quality would still have been poor. To recap, the 90-day NPL formation came in +46bps higher QoQ at 6.8% (7.2% including the renegotiated portfolio) on deterioration across its individual and small/medium business ((SMB)) book. This compares to a smaller low-teens bps deterioration for key peer Itau (ITUB), reflecting Bradesco's relatively lower-quality, retail-focused portfolio. The +50bps QoQ early delinquency was another concern, headlined by a ~110bps deterioration for SMBs amid a challenging operating environment. Bradesco While bulls might argue that the asset quality deterioration is a one-off (vs. structural) event, the resulting decline in Bradesco's capital ratio will weigh on the P&L. For context, the tier-1 common equity ratio now stands at 11.0% - ~110 bps lower due to adverse regulatory changes and prudential adjustments, in addition to the P&L impact. Given the bank's concentration on the lower-income segment, as well as underserved regions, Bradesco should suffer more in an economic downturn (and vice-versa). So depending on when real purchasing power recovers and inflation subsides, Bradesco could underperform peers with higher-quality books. Weaker FY23 Guidance a Sign of Things to Come Beyond the Q4 letdown, Bradesco's guidance also came as a negative surprise. To recap, net interest income growth is guided to slow to +9% at the midpoint, while net provisions will remain elevated at +38% YoY on an underlying basis (+19% YoY including the Americanas impact). This points not only to more asset quality headwinds in retail (individuals/SMB) but also a more conservative outlook for the wholesale segment in a 'higher for longer' rate environment. Another likely contributor to the disappointing P&L guidance is the smaller loan portfolio as management actively de-risks the Americanas exposure and the resulting impact of lower interest revenue on the loan book. Bradesco
Seeking Alpha • Feb 10

Banco Bradesco reports Q4 results

Banco Bradesco (NYSE:BBD): Q4 Net income R$1.59B Revenue of R$16.68B (-1.7% Y/Y). Press release
Seeking Alpha • Jan 04

Banco Bradesco declares $0.0032 dividend

Banco Bradesco (NYSE:BBD) declares $0.0032/share monthly dividend, in line with previous. Forward yield 1.51% Payable March 20; for shareholders of record Jan. 10; ex-div Jan. 9. See BBD Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Nov 08

Banco Bradesco Recurring Net Income of R$2.41 per share

Banco Bradesco press release (NYSE:BBD): Q3 recurring Net Income of R$2.41 per share. Operating Income of R$7.05B (-33.5% Y/Y) Net Interest Income of R$16.28B (+3.7% Y/Y).
Seeking Alpha • Sep 01

Banco Bradesco goes ex-dividend tomorrow

Banco Bradesco (NYSE:BBD) had declared $0.0034/share monthly dividend, 6.3% increase from prior dividend of $0.0032. Payable Oct. 10; for shareholders of record Sept. 6; ex-div Sept. 2. See BBD Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Aug 01

Banco Bradesco goes ex-dividend tomorrow

Banco Bradesco (NYSE:BBD) had declared $0.003/share monthly dividend, in line with previous. Payable Sept. 9; for shareholders of record Aug. 3; ex-div Aug. 2. See BBD Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jun 30

Banco Bradesco goes ex-dividend tomorrow

Banco Bradesco (NYSE:BBD) had declared $0.003/share monthly dividend. Payable Aug. 10; for shareholders of record July 5; ex-div July 1. See BBD Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • May 20

Banco Bradesco: Navigating Brazil's Economic Setbacks

Banks in Brazil will be under considerable pressure this year, as NPLs rise, credit growth decreases, and macroeconomic conditions become worse. Banco Bradesco is on track to deliver strong growth, and the bank's NPLs are still at a reasonable level. Brazil is still a stand out among other emerging markets, as it provides exposure to commodities and may be able to rise within MSCI Emerging Markets in the future.

Shareholder Returns

BBDUS BanksUS Market
7D0.9%0.3%0.6%
1Y19.2%20.4%19.5%

Return vs Industry: BBD matched the US Banks industry which returned 20.2% over the past year.

Return vs Market: BBD matched the US Market which returned 18.4% over the past year.

Price Volatility

Is BBD's price volatile compared to industry and market?
BBD volatility
BBD Average Weekly Movement4.2%
Banks Industry Average Movement3.4%
Market Average Movement7.3%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.2%

Stable Share Price: BBD has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: BBD's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
194369,653Marcelo de Araujo Noronhabanco.bradesco

Banco Bradesco S.A., together with its subsidiaries, provides various banking products and services in Brazil and internationally. The company operates in two segments, Banking and Insurance. It engages in banking operations, including investment, national, international, and private banking, as well as investment fund management, consortium administration, middle market and corporate activities, and leasing.

Banco Bradesco S.A. Fundamentals Summary

How do Banco Bradesco's earnings and revenue compare to its market cap?
BBD fundamental statistics
Market capUS$34.20b
Earnings (TTM)US$4.53b
Revenue (TTM)US$17.88b
8.2x
P/E Ratio
1.1x
P/B Ratio

Is BBD overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
BBD income statement (TTM)
RevenueR$91.67b
Cost of RevenueR$1.16b
Gross ProfitR$90.51b
Other ExpensesR$67.27b
EarningsR$23.25b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Aug 05, 2026

Earnings per share (EPS)2.20
Gross Margin98.74%
Net Profit Margin25.36%
Debt/Equity Ratio469.2%

How did BBD perform over the long term?

See historical performance and comparison

Dividends

6.7%
Current Dividend Yield
58%
Payout Ratio

Does BBD pay a reliable dividends?

See BBD dividend history and benchmarks
When do you need to buy BBD by to receive an upcoming dividend?
Banco Bradesco dividend dates
Ex Dividend DateDec 31 2025
Dividend Pay DateAug 07 2026
Days until Ex dividend191 days
Days until Dividend pay date28 days

Does BBD pay a reliable dividends?

See BBD dividend history and benchmarks

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/09 05:00
End of Day Share Price 2026/07/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Banco Bradesco S.A. is covered by 22 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Roberto de Aguiar AttuchBarclays
Rafael ReisBB Banco de Investimento S.A.
Mario Lucio PierryBofA Global Research