Analyst Consensus ?
ConsensusHold16 ratings
Bullish637.5%
Neutral956.3%
Bearish16.2%
Banco Bradesco S.A. · BBD · FY2023 Q4 · Calendar Q1 2024
Bradesco outlines a five-year plan after a challenging 2023
Bradesco’s medium-term case rests on executing its transformation plan: expanding credit and insurance, improving efficiency and using technology to strengthen risk management. The evidence is mixed: insurance and digital initiatives support the plan, but lowered guidance, higher provisions and execution risks argue for caution.
Reported Before market openNYSEFinancial Services
$42.38B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.06
Consensus $0.08
EPS surprise
-25.0%
Reported versus consensus
Reported revenue
$74.39B
Consensus —
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-15.5%
Event window
SPY move
+0.8%
Same window
Abnormal move
-16.4%
Stock minus SPY
Volume
4.4×
Versus trailing sessions
Subsequent drift
-0.7%
Up to 20 sessions
BBDSPY benchmark
Ask FN2 about BBD FY2023 Q4
Transcript, numbers and history already loaded
Why did BBD fall 15.5% after missing EPS estimates in FY2023 Q4?What changed in BBD's guidance and outlook in FY2023 Q4?Give me the bull and bear case for BBD after FY2023 Q4 earnings.
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Transcript intelligence
What changed
The current analysis shifts the focus from a maintained outlook and improving credit quality in the prior quarter to a lowered 2024 outlook after a challenging 2023. Management now emphasizes a five-year transformation, including technology hiring, cloud migration, AI-supported credit models, cost-to-serve reductions and possible Cielo ownership.
Guidance delta
Guidance sentiment moved from maintained in the prior analysis to lowered in the current analysis, with 2024 characterized as a transition year.
Key takeaways
- Management described 2023 as challenging, with earnings below expectations and a modest 2024 outlook.
- The five-year plan targets higher loan market share, better operating efficiency and improved ROE.
- Insurance was identified as a strong business, while technology hiring, cloud migration and AI-supported credit models are central initiatives.
- The main test is execution: reducing costs and provisions while restarting retail and SME credit growth.
Management priorities
- Execute the five-year strategic plan.
- Increase loan market share through retail and SME credit origination.
- Hire technology staff, migrate core systems to the cloud and expand AI usage.
- Reduce operating costs and improve the efficiency ratio.
- Grow insurance revenue and pursue the Cielo acquisition.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$2.89Current
$3.2Low
$3.77Average
$4.2High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| HSBC | Hold | Buy | Downgrade | Oct 8, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Oct 6, 2026 |
| Goldman Sachs | Neutral | Sell | Upgrade | Oct 14, 2025 |
| Citigroup | Buy | Neutral | Upgrade | May 28, 2025 |
| B of A Securities | Buy | Neutral | Upgrade | May 8, 2025 |
| HSBC Securities | Buy | Hold | Upgrade | Jan 13, 2025 |
| Jefferies | Hold | Buy | Downgrade | Feb 9, 2024 |
| Barclays | Equal Weight | Equal Weight | Maintain | Mar 7, 2023 |
| Itau BBA | Market Perform | Outperform | Downgrade | Sep 13, 2021 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Aug 7, 2019 |
| UBS | Neutral | Buy | Downgrade | May 5, 2016 |
| Deutsche Bank | Hold | Buy | Downgrade | Mar 22, 2016 |
| Scotiabank | Underperform | Underperform | Maintain | Mar 15, 2016 |
| Bank of America | Buy | Neutral | Upgrade | Mar 14, 2016 |
| Canaccord Genuity | Neutral | Outperform | Downgrade | Apr 9, 2015 |
| GBM | Market Perform | Market Underperform | Upgrade | Jul 23, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $2.89. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $4.2 | $4.24 | +45.3% | Oct 9, 2026 |
| HSBC | Analyst unavailable | $3.9 | $4.34 | +34.9% | Oct 8, 2026 |
| Goldman Sachs | Tito Labarta | $3.2 | $2.75 | +10.7% | Aug 19, 2024 |
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Start freeCompany context
Snapshot as of publicationBanco 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 various businesses, operating both within Brazil and across international markets. Its operations are structured around two core divisions: Banking and Insurance. Within its Banking division, it facilitates a range of deposit accounts, including checking, savings, and specialized options.…
Historical context
All BBD earningsFinancial Services peers this season
Latest reports in the same sector
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-26T16:30:40.969267+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T16:30:40.966300+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.