Banco Bradesco is Brazil's second-largest private bank, with about 10%-15% of deposits, and the largest insurance provider in Brazil, with roughly 20%-25% market share... Show more
Banco Bradesco S.A. is one of Brazil's largest financial institutions and the country's second-largest private-sector bank by assets. Headquartered in Osasco, São Paulo, the bank provides retail, corporate, and wholesale banking services alongside a substantial insurance operation through Bradesco Seguros. Its New York Stock Exchange-listed ADRs trade under the symbols BBD (common shares) and BBDO (preferred shares). Investors follow the stock for its exposure to Brazil's credit cycle, interest-rate environment, digital-banking transformation, and shareholder returns. In recent quarters, management has emphasized risk-adjusted loan growth in collateralized and payroll-linked products, tighter control of unsecured lending, and efficiency gains supported by generative AI.
Over the trailing 30 days, BBD has fallen roughly 17%, declining from a closing level near $3.41 on September 25 to approximately $2.82 in late-October trading. The move was not linear: the ADR rallied sharply in early October to a 52-week high near $4.51 before surrendering those gains, with much of the decline concentrated in a single session following Brazil's presidential runoff.
The longer quarterly picture is similar. About three months earlier, in late July, BBD traded near $3.60, meaning the ADR has declined roughly 22% over the last quarter. That broader pullback reflects a combination of a challenging macroeconomic backdrop, persistent asset-quality concerns, and heightened political uncertainty leading into Brazil's election cycle.
Two forces dominated the most recent 30-day window. First, Banco Bradesco reported third-quarter 2026 results on October 22, posting recurring net income of about R$7.1 billion (up 14.6% year over year) on total revenue of roughly R$38 billion (up 8.4% year over year). The expanded loan portfolio reached R$1.15 trillion, up 11.1% year over year, and the bank completed a R$10 billion capital increase that lifted its CET1 ratio to 12.1%. However, earnings per ADR of about $0.13 narrowly missed consensus, and asset quality weakened, with the over-90-day non-performing loan ratio rising to 4.6% from 4.3% in the prior quarter and loan-loss provisions climbing roughly 24% year over year.
Second, and more decisively, Brazilian financial stocks sold off sharply on the first trading day after the country's October 25 presidential runoff, in which incumbent Luiz Inácio Lula da Silva was re-elected. Bradesco's locally listed preferred shares fell about 25%, while the BBD ADR dropped roughly 30% intraday, as investors reassessed the outlook for fiscal policy, future interest rates, and economic growth. Peer Itaú Unibanco and state-controlled Banco do Brasil posted similarly steep declines.
Analyst activity added to the volatility. J.P. Morgan upgraded the stock in early October, while Goldman Sachs raised its price target and HSBC moved to a Hold rating, underscoring the divided near-term outlook ahead of the election result.
The quarterly decline of roughly 22% reflects a longer-running narrative rather than a single event. Through August, BBD drifted lower, from near $3.60 in late July to roughly $3.00 by late August, pressured by Brazil's high real interest rates and investor caution over credit quality. A September recovery and an early-October election-driven rally briefly pushed the ADR toward $4.50 before the post-runoff selloff reversed those gains. Throughout the period, the bank's strategic repositioning—expanding collateralized lending while shrinking unsecured personal loans—coincided with rising delinquencies concentrated in government-guaranteed SME portfolios and seasonal agricultural lines, keeping sentiment cautious.
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Looking ahead, investors are likely to focus on several factors. First, the trajectory of Brazil's benchmark Selic rate and the new administration's fiscal policy will shape funding costs, loan demand, and asset quality across the banking sector. Second, credit metrics remain in focus, particularly the over-90-day NPL ratio and the cost of risk; management has signaled that pressures in government-guaranteed SME portfolios may persist until an expected inflection point in 2027. Third, net interest margin will be watched closely, as rapid growth in lower-spread large-corporate lending has diluted the bank's blended NIM. Fourth, the insurance segment, digital-banking efficiency gains, the renewed share-buyback program, and interest-on-capital distributions offer potential support to shareholder returns. These are informational factors, not investment recommendations, and outcomes will depend on how Brazil's economic and political landscape evolves.
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The 50-day moving average for BBD moved above the 200-day moving average on October 23, 2026. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 43 of 64 cases where BBD's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 67%.
BBD moved above its 50-day moving average on September 30, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +23.64% 3-day Advance, the price is estimated to grow further. Considering data from situations where BBD advanced for three days, in 189 of 274 cases, the price rose further within the following month. The odds of a continued upward trend are 69%.
The Aroon Indicator entered an Uptrend today. In 203 of 275 cases where BBD Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 74%.
The 10-day RSI Indicator for BBD moved out of overbought territory on October 12, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 similar instances where the indicator moved out of overbought territory. In 30 of the 40 cases, the stock moved lower in the following days. This puts the odds of a move lower at 75%.
The Momentum Indicator moved below the 0 level on October 19, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on BBD as a result. In 56 of 84 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 67%.
The Moving Average Convergence Divergence Histogram (MACD) for BBD turned negative on October 19, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 42 similar instances when the indicator turned negative. In 27 of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at 64%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BBD declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 66%.
BBD broke above its upper Bollinger Band on October 02, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron SMR rating for this company is 1 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 16 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: BBD's P/B Ratio (0.238) is slightly lower than the industry average of (1.271). P/E Ratio (1.858) is within average values for comparable stocks, (13.247). Projected Growth (PEG Ratio) (1.623) is also within normal values, averaging (1.190). Dividend Yield (0.058) settles around the average of (0.035) among similar stocks. BBD's P/S Ratio (1.539) is slightly lower than the industry average of (3.738).
The Tickeron Price Growth Rating for this company is 39 (best 1 - 100 worst), indicating steady price growth. BBD’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 41 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 56, placing this stock slightly better than average.
The Tickeron PE Growth Rating for this company is 96 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a major bank
Industry RegionalBanks