Banco Bradesco Preference Shares (BBDC4: R$13.05) rises to push past 13.0; +27 centavos [2.1%] 06 June 2024

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Banco Bradesco SA's (SA: BBDC4 R$13.05) preference stock price rebounded after hitting a low for the day of R$12.76 and rose back to test the 13.0 hurdle.

Banco Bradesco Preference Shares' preference stock price climbed 27.0 centavos (2.1%) from its previous trading session to close at R$13.05.

Compared with the Bovespa Index which rose 1,491.5 points (1.2%) in the day, the relative price increase was 0.7%.

Banco Bradesco SA is Brazil's 4th largest Bank by market cap.

There were 26,620,000 preference shares worth R$347.4 million ($65.8 million) traded today. The volume was 0.7 times the average daily trading volume of 36.5 million preference shares.

BANCO BRADESCO PREFERENCE SHARES (BBDC4) Stock Dashboard [traded in Brazilian Real, BRL] End-of-Day Thu, Jun 06

http://www.bradesco.com.br/

LastBRL13.05Market CapBRL69 billion [US$13 billion]
P/E10.3Dividend Yield % (TTM)7
EPS (FY2023)BRL1.27DPS (past 12 months)BRL1.5 or 146 centavos
Shares Outstanding5,311,865,547ExchangeBRAZILIAN [Sao Paulo]
BBDC4 in IndicesBovespa [of 85 stocks]SectorBank [of 26 stocks]
EPS Growth (FY2023 vs FY2022)-32.8%Today's VI*0.7
Today's Volume26,620,000Currency1.000 USD = 5.28 Brazilian Real (BRL)
Ave Daily Volume36,461,160 sharesPV$1000 (1 yr)BRL883
US$822
52-Week Price Range12.62 - 17.08

A year ago the exchange rate was USD 1 = 4.92 BRL. USD1000 would have bought BRL4,919. A year ago the Banco Bradesco Preference Shares preference share price was BRL15.67. BRL4,919 would have bought 313.9 Banco Bradesco Preference Shares preference shares on that day. Those 313.9 preference shares would be worth BRL4,097 at today's preference share price of BRL13.05. At today's exchange rate of USD1=5.28 BRL this is equivalent to USD775. Dividends reinvested are worth BRL50 ($47). PV$1000= $822.

INDEX

SECTION 1 RECENT NEWS AND RESEARCH

SECTION 2 THE PAST YEAR: PRESS RELEASES

SECTION 3 TODAY'S BEARISH SIGNALS

SECTION 4 ONGOING BEARISH PARAMETERS

SECTION 5 TODAY'S BULLISH SIGNALS

SECTION 6 ONGOING BULLISH PARAMETERS

SECTION 7 CORPORATE PROFILE

SECTION 8 BANK METRICS

SECTION 9 DIVIDEND

SECTION 10 TOP MANAGEMENT

SECTION 11 TOP SHAREHOLDERS

Read more...

ANNEXURE

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

APPENDIX II STOCK IDENTIFIERS

GLOSSARY

SECTION 1 RECENT NEWS AND RESEARCH

BANCO BRADESCO PREFERENCE SHARES EX-DIVIDENDS SINCE JUN 4

The preference shares increased by 1.6% in the 2 trading sessions since the ex-dividend date of June 04. The company paid a dividend of 1.61 centavos per share. Based on dividends of 92.03 centavos per share for the trailing twelve months and the last price of R$13.05 the dividend yield is 7.0%.

VI* Volume Index = Number of shares traded today/Average number of shares traded per day.

Past quarter momentum down: Banco Bradesco Preference Shares falls 4.8% on below average volume 0.9 times average.

Past month to HighLowVWAPVolume Index *
06 Jun 202413.8112.6213.160.9
06 May 202413.8013.6513.930.9
05 Apr 202414.5614.3314.180.8

[*Volume Index of 0.9 means volume for the month was 0.9 times its 12-month average]

[VWAP is defined as the Volume Weighted Average Price; High Low prices and VWAP are shown in Brazilian Real]

SECTION 2 THE PAST YEAR: PRESS RELEASES

2.1 Press Releases and Corporate Wire

Press Release article 1 of 17, Source: WEC, 56 words

May 24: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a cash dividend of 1.61 centavos per share. The ex-dividend date is Tuesday, July 02, 2024 and the record date is Monday, July 01, 2024 and it is payable on Thursday, August 01.

Press Release article 2 of 17, Source: WEC, 56 words

May 24: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a cash dividend of 1.61 centavos per share. The ex-dividend date is Tuesday, June 04, 2024 and the record date is Monday, June 03, 2024 and it is payable on Monday, July 01.

Press Release article 3 of 17, Source: WEC, 56 words

April 11: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a cash dividend of 1.61 centavos per share. The ex-dividend date is Friday, May 03, 2024 and the record date is Thursday, May 02, 2024 and it is payable on Monday, June 03.

Press Release article 4 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Tuesday, December 03, 2024 and the record date is Monday, December 02, 2024 and it is payable on Thursday, January 02, 2025.

Press Release article 5 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Monday, November 04, 2024 and the record date is Friday, November 01, 2024 and it is payable on Monday, December 02, 2024.

Press Release article 6 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Tuesday, September 03, 2024 and the record date is Monday, September 02, 2024 and it is payable on Tuesday, October 01, 2024.

Press Release article 7 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Tuesday, June 04, 2024 and the record date is Monday, June 03, 2024 and it is payable on Monday, July 01, 2024.

Press Release article 8 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Tuesday, July 02, 2024 and the record date is Monday, July 01, 2024 and it is payable on Thursday, August 01, 2024.

Press Release article 9 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Friday, August 02, 2024 and the record date is Thursday, August 01, 2024 and it is payable on Monday, September 02, 2024.

Press Release article 10 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Wednesday, October 02, 2024 and the record date is Tuesday, October 01, 2024 and it is payable on Friday, November 01, 2024.

Press Release article 11 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Friday, May 03, 2024 and the record date is Thursday, May 02, 2024 and it is payable on Monday, June 03, 2024.

Press Release article 12 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Wednesday, January 03, 2024 and the record date is Tuesday, January 02, 2024 and it is payable on Thursday, February 01, 2024.

Press Release article 13 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Friday, February 02, 2024 and the record date is Thursday, February 01, 2024 and it is payable on Friday, March 01, 2024.

Press Release article 14 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Monday, March 04, 2024 and the record date is Friday, March 01, 2024 and it is payable on Monday, April 01, 2024.

Press Release article 15 of 17, Source: WEC, 58 words

December 22 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 1.90 centavos per share. The ex-dividend date is Tuesday, April 02, 2024 and the record date is Monday, April 01, 2024 and it is payable on Thursday, May 02, 2024.

Press Release article 16 of 17, Source: WEC, 57 words

December 13 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 44.73 centavos per share. The ex-dividend date is Friday, December 22 and the record date is Thursday, December 21, 2023 and it is payable on Friday, June 28, 2024.

Press Release article 17 of 17, Source: WEC, 57 words

July 03 2023: Banco Bradesco Preference Shares announces dividend

Banco Bradesco Preference Shares today announced a special dividend of 19.69 centavos per share. The ex-dividend date is Tuesday, June 27, 2023 and the record date is Monday, June 26, 2023 and it is payable on Thursday, July 06.

SECTION 3 TODAY'S BEARISH SIGNALS

Price/Earnings of 10.3 > Bank sector (of 26 preference stocks) avg of 5.2:

- The price-to-earnings ratio of 10.3 indicates overvaluation compared with sector average of 5.2 and market average of 4.3.

3.1 Relative Value Indicators: Overvaluation compared with Index averages and bond yield

- Earnings yield of 9.7% is less attractive compared with the Brazilian average earning yield of 23.1%.

- The earnings yield of 9.7% is below the 10-year bond yield of 11.8%.

(All figures in %)

Earnings Yield9.7
Brazilian avg23.1
Dividend Yield7.0
Bond Yield11.8

3.2 Downtrend

Beta < 1 combined with price fall. The Beta of the preference stock is 0.9.

Price/Moving Average Price of 0.9 and negative MACD:

- The Price/MAP 200 for Banco Bradesco Preference Shares is 0.9. Being less than 1 is a bearish indicator. It is lower than the Price/MAP 200 for the Bovespa Index of 0.98, a second bearish indicator. The stock is trading below both its MAPs and the 50-day MAP of R$13.90 is lower than the 200-day MAP of R$14.46, a third bearish indicator. The 200-day MAP has decreased to R$14.46, a fourth bearish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 12.94 minus the 26-day EMA of 13.17 is negative, suggesting a bearish signal.

Past Quarter:

- In the last three months the preference stock has hit a new 52-week low twice.

The Worst 3 weeks in the past quarter

The past month witnessed the worst 2 weeks in the past quarter. In the past quarter the steepest fall of 4.0% took place in the week beginning Monday April 15.

Mon-FriChange %Bovespa Index Change %Vol Ind [1 is avg]
Apr 15-19-4-0.71
May 20-24-3.4-32.3
May 06-10-3-0.71

Trailing Relative Strength (6 months) at 31 percentile:

- The preference stock has a 6-month relative strength of 31 in the Brazilian market of 263 stocks and 77 preference stocks which means it has underperformed 69% of the market.

3.3 Other Bearish Signals

- Return on Equity of 8.7% versus sector average of 13.6%.

SECTION 4 ONGOING BEARISH PARAMETERS

4.1 Present Value of R$1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Worst Periods with PVR$1000 < 960

PVR$1,0003 mo ago1 yr ago3 yrs ago
BBDC4.SAR$959R$883R$753
Bank sectorR$949R$1,039R$935
Bovespa IndexR$962R$1,072

4.2 The Worst Periods [3 Mo, 1 Yr, 3 Yrs] with Price Change % < -4.7

3-Year price change of -38.5% for Banco Bradesco Preference Shares underperformed the change of -5.5% in the Bovespa Index for a relative price change of -32.9%.

Price Change %QuarterYear3 Years
Banco Bradesco Preference Shares-4.8-16.7-38.5
Bank sector-5.13.9-6.5
Bovespa Index-3.39.1-5.5

4.3 MCap: 5-Year Decrease of R$78 B [$15B] (53%)

In the past 5 years Market Capitalization has decreased by R$77.8 billion (53%) from R$147.1 billion to R$69.3 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 4 out of 5 years.

PriceMCap (BRL B)MCap ($ B)
LastR$13.0569.313.1
1 Year agoR$15.6788.117.9
2 Years agoR$17.3496.520.2
3 Years agoR$21.21136.224.5
4 Years agoR$14.9298.919.5
5 Years agoR$20.88147.138.2

4.4 EPS growth [FY2023 vs FY2022] of -32.8%:

FYEPS (R$)Growth %
20231.27-32.8
20221.89-8.7

4.5 Annualised Period-based Total preference Shareholder Returns [TSR %]: The Worst Periods with TSR < -1.1%

TSR %1 yr3 yrs5 yrs20 yrs
BBDC4.SA-11.7-8.9-3.1-1.2

4.6 Declining VWAP, down 14% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has decreased by 14.1% to R$14.61. Based on a dynamic start date of five years ago, there have been declines in VWAP in 3 out of 5 years.

Past five years, 12 months ended Jun 06 (BRL)

YearHigh PriceVWAPLow Price
202417.0814.6112.62
202319.414.5211.65
202221.7716.9614.75
202121.3716.1412.87
202022.9917.010.49

4.7 Satisfies 1 out of 9 criterion of Joseph Piotroski [pass mark 5]:

- Positive net income.

But does not meet the following 8 criteria of Joseph Piotroski:

- Positive operating cashflow.

- Return on Assets improvement.

- Good quality of earnings [operating cashflow exceeds net income].

- Improvement in long-term debt to total assets.

- Improvement in current ratio.

- Total shares on issue unchanged (or reduction in total shares on issue).

- Improvement in gross margin.

- Improvement in asset turnover.

SECTION 5 TODAY'S BULLISH SIGNALS

Price/Earnings:

Banco Bradesco Preference Shares stock is trading at the fifteenth lowest P/E multiple in the Bovespa Index.Banco Bradesco Preference Shares stock is the fifteenth highest dividend yielding stock in the Bovespa Index.

5.1 PAST WEEK: MODERATE MOMENTUM UP

BBDC4 increases 3.3% on average volume 0.96 times average. Compared with the Bovespa Index which fell 304.0 points (or 0.2%) in the week, the relative price increase was 3.1%.

The price ranged between a high of R$13.05 on Thursday Jun 06 and a low of R$12.64 on Friday May 31.

DateBanco Bradesco Preference SharesClose [BRL]Change %Comment
Thu Jun 06Rises to push past 13.013.052.1Top Rise
Wed Jun 05Offers earnings yield of 9.9%12.78-0.5Oversold: close to 14-day low
Tue Jun 04Offers earnings yield of 9.9%12.851.1VI*=1.2; RPC=1.6%
Mon Jun 03Rises 0.8% from 14-day low12.710.6VI*=2.01
Fri May 31In 4th consecutive fall12.64-0.9Steepest Fall; VI*=3.4

* RPC - Relative Price Change is % price change of stock less % change of the Bovespa Index.

[Volume Index (VI); 1 is average]

5.2 Rank in the top 23% by Relative Valuation in the Brazilian market

DescriptionValueRank
Price to Book Value0.5In Top 23%

5.3 Rank in the top 16% by Price Performance in the Brazilian market

DescriptionValueRank
1-week Price Change %3.3In Top 16%

SECTION 6 ONGOING BULLISH PARAMETERS

6.1 Rank in the top 99% by Liquidity in the Brazilian market

DescriptionValueRank
Ave daily turnoverR$535 million ($101 million)In top 99%

6.2 Annualised Period-based Total preference Shareholder Returns [TSR %]: The Best Period with TSR > 9%

TSR %10 yrs
BBDC4.SA9.1

6.3 Increased Volume, up 52% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has increased 51.8% to 36.5 million preference shares.

Avg. Daily Volume Traded 12 months ended Jun 06, million preference shares

YearADVT
202436.5
202343.7
202238.1
202142.5
202024.0

6.4 Increased preference share turnover

In the past five years, average daily preference share turnover has increased 1.5% to R$532.7 million ($100.8 million). This suggests increased liquidity.

Past five years, 12 months ended Jun 06 (BRL million)

YearAverage Daily Turnover
2024532.7
2023632.5
2022701.4
2021803.4
2020524.8

6.5 Satisfies one criterion of Benjamin Graham

- The P/E of 10.3 multiplied by the P/NTA of 0.5 is 4.9. Being less than the Benjamin Graham benchmark of 22.5 the preference stock appears undervalued.

SECTION 7 CORPORATE PROFILE

7.1 Activities

Banco Bradesco S.A. attracts deposits and offers commercial banking services. The Bank offers business loans, personal credit, mortgages, lease financing, mutual funds, securities brokerage, and Internet banking services. Bradesco operates in Brazil and Argentina, the United States, the Cayman Islands, and the United Kingdom. Bradesco offers credit cards, insurance, and pension funds. It is Brazil's 4th largest Bank by market capitalisation.

7.2 Contact Details

Websitehttp://www.bradesco.com.br/
Physical AddressCidade de Deus s/n Vila Yara Osasco, SP 06029-900 Brazil
Phone(11)3684 3749
Fax(11)3684 2714
Email4000.mvargas@bradesco.com.br

7.3 Industry & Sector [of 95 stocks]

Classification LevelName of Sector
Business SectorBanking & Investment Services
Industry GroupBanking Services
IndustryBanks
Economic SectorFinancials

SECTION 8 BANK METRICS

8.1 Bank Metrics (FY2023)

All values are in R$ billion

DescriptionFY2023FY2022Change
Interest Income211.5 200.6 Up 5.4%
Interest Expense156.4 130.8 Up 19.6%
Net Interest Income55.1 69.8 Down 21.1%
Bank Other Revenue18.2 9.3 Up 95.4%

Favourable Changes:

- Interest Income up 5.4% from R$200.6b to R$211.5b

- Bank Other Revenue up 95.4% from R$9.3b to R$18.2b

Unfavourable Changes:

- Interest Expense up 19.6% from R$130.8b to R$156.4b

- Net Interest Income down 21.1% from R$69.8b to R$55.1b

SECTION 9 DIVIDEND

9.1 Dividend History

In the past 2 years annual dividends have increased by 22.3 centavos from 69.7 centavos to 92.1 centavos. Based on a start date of 2 years ago, there has been no decline in dividends over the last 2 years.

Date PaidValue ( centavos)Type
04 Jun 20241.61Cash
04 Jun 20241.9Special
03 May 20241.9Special
03 May 20241.61Cash
02 Apr 20241.9Special
02 Apr 20241.61Cash
04 Mar 20241.9Special
02 Feb 20241.9Special
03 Jan 20241.9Special
22 Dec 202344.73Special
04 Dec 20231.9Special
03 Nov 20231.9Special
03 Oct 20231.9Special
04 Sep 20231.9Special
02 Aug 20231.9Special
04 Jul 20231.9Special
27 Jun 202319.69Special
Tr 12 Months92.05
2022 - 202369.74

SECTION 10 TOP MANAGEMENT

10.1 Top Management

NameDesignation
Luiz Carlos Trabuco CappiChief Executive Officer
Domingos Figueiredo de AbreuExecutive Vice President
Mauricio Machado de MinasExecutive Vice President
Octavio de Lazari JuniorExecutive Vice President
Andre Rodrigues CanoExecutive Vice President
Alexandre da Silva GluherExecutive Vice President, Chief Risk Officer
Marcelo de Araujo NoronhaExecutive Vice President
Josue Augusto PanciniExecutive Vice President

SECTION 11 TOP SHAREHOLDERS

Top 3 shareholders

Name of the Share HolderNumber Of Shares% of Capital
Cidade de Deus Cia Cial Participacoes122119788923.0
Fundacao Bradesco4562892508.6
Ncf Participacoes S.A.2852471805.4

% held by Top 3 shareholders 37.0%

APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER

BBDC4: EXPORT DATA TO EXCEL:

+ PRICE VOLUME - 5-YEAR HISTORY

+ PEER COMPARISON

BBDC4: OTHER INFORMATION:

+ NEWS ARCHIVES - BBDC4 PAST 4 YEARS:

+ PRICE VOLUME CHARTS

+ USD vs BRL EXCHANGE RATE CHARTS IN HTML

+ BOARD OF DIRECTORS

APPENDIX II STOCK IDENTIFIERS

ISIN: BRBBDCACNPR8

PermID: 5035095906

RIC: BBDC4.SA

LEI: 549300CTUU1RFXHQJE44

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabilities (times)

Dividend Yield: Dividend Per Share/Share Price (%)

Earnings Yield: Earnings Per Share/Share Price (%)

Income during the n years (3/2/1): Dividends received during the Period

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TTM: Trailing 12 Months

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

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