Bradesco CLO Bought at $18.10, Exec Sold Lower Weeks Later
Bradesco CLO Julio Cesar Bueno committed $1.998 million to BBD at $18.10 on July 1, a position now sitting 8.2% underwater after a fellow executive sold at $16.61 in August. Bamco Inc. invested $25.34
Bradesco Exec Sells Below CLO's Entry as Bamco Steps In
NEW YORK, August 31 —
Banco Bradesco S.A. (BBD) has two insiders pointing in opposite directions: the bank's CLO committed $2 million to Bradesco shares at $18.10 in July, and seven weeks later a fellow executive sold at $16.61, below that entry, even as institutional investor Bamco Inc. backed the bull case with $25.34 million.
- CLO Julio Cesar Bueno bought 110,400 shares at $18.10 ($2M) on July 1; Bamco Inc. invested $25.34M in late August.
- BBD ADR trades at $3.25, 5.8x forward earnings; analyst consensus price target is $4.55.
A $2 Million Bet That Is Already Underwater
By August 25, Executive Officer Ramalho Miranda had sold shares at $16.61, a price 8.2% below Bueno's entry, turning the CLO's position into an unrealized loss. The aggregate insider posture remains in net-buying territory, at $2.00 million in purchases against $0.63 million in sales over the 90-day window, but the detail matters: the buyer acted seven weeks before the seller, and the spread between their prices is where the credibility question sits.
Three Misses in Four Quarters, Priced for a Turn
Banco Bradesco provides retail banking, investment management, and insurance across Brazil and internationally, with trailing revenue of $93.28 billion growing 7.2% year-over-year. At a 5.8x forward P/E with trailing EPS of $0.43, the stock is priced for a sustained recovery; the P/E calculator models what that rerating requires. The specific checkpoint: whether the next quarter delivers a fourth EPS miss in five periods, which would push the value-trap concern from background to foreground.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| BBD | $34.4B | 5.8x | +7.6% |
| ITUB | $82.7B | 7.5x | +10.2% |
| GGB | $9.0B | 8.1x | +50.0% |
| ABEV | $44.1B | 13.3x | +30.6% |
| BSBR | $43.5B | 6.8x | +11.3% |
| SID | $1.4B | 4.1x | -27.1% |
Bamco's Entry Sets the Next Test
Bamco Inc. NY's $25.34 million investment in BBD, reported in late August 2026, aligns directionally with Bueno's July purchase even as Miranda's August sales point the other way. With short interest at just 0.2% of float, there is little short-side pressure amplifying downside news, which means the stock's next move depends almost entirely on whether Bradesco's earnings trajectory turns. Analyst consensus pegs fair value at $4.55 against a current ADR price of $3.25; that gap narrows only if the serial miss pattern breaks. Run the free Banco Bradesco S.A. deep-dive to check the forward earnings setup directly.
Basis Report is independent research for informational purposes. It is not investment advice and not a recommendation to buy or sell any security.
Frequently Asked Questions
What did Bradesco's CLO buy in BBD stock?
CLO Julio Cesar Bueno purchased 110,400 BBD shares at $18.10 on July 1, 2026, a $1.998 million open-market commitment. By August 25, a fellow executive had sold at $16.61, a price 8.2% below Bueno's entry, turning the position into an unrealized loss.
How many times has Bradesco missed earnings estimates?
Bradesco has missed EPS consensus in three of four recent quarters. The most recent quarter came in at $0.125 against a $0.133 consensus, a 6.0% shortfall that extends a pattern of serial underdelivery.
How much did Bamco Inc. invest in Bradesco?
Bamco Inc. invested $25.34 million in BBD in late August 2026. That move aligns directionally with the CLO's July purchase, even as another executive was selling at the same time.
What is Bradesco's forward P/E and analyst price target?
BBD trades at 5.8x forward earnings with the ADR at $3.25 and trailing EPS of $0.43. Analyst consensus puts fair value at $4.55, a gap that narrows only if the serial miss pattern breaks.
What is Bradesco's short interest as a percentage of float?
Short interest stands at 0.2% of float, meaning there is little short-side pressure amplifying downside news. The stock's next move depends almost entirely on whether the earnings trajectory turns.
Two open-market sales by Banco Bradesco Executive Officer Ramalho Miranda in August were priced at $16.61—below the $18.10 at which the bank's CLO committed $2 million seven weeks earlier—even as institutional investor Bamco Inc. moved the opposite direction and invested $25.34 million in BBD shares, leaving the stock's near-term direction genuinely contested.