Bradesco CLO Buys $2M in BBD Stock in Open Market
Banco Bradesco's chief legal officer made a nearly $2 million open-market purchase of BBD shares on July 1, 2026, the largest insider buy in the 90-day window. Three director-level sellers totaled $3.
Bradesco CLO Buys $2M in BBD Stock in Open Market
NEW YORK, July 28 —
Banco Bradesco's chief legal officer spent nearly $2 million of his own money on BBD shares on July 1, 2026, the largest open-market insider buy in the bank's recent filing window. The signal would read as unambiguous conviction if three directors hadn't spent the prior two months doing the opposite, cashing out $3.35 million combined before Bueno's buy was filed.
- CLO Julio Cesar Bueno purchased 110,400 shares at $18.10 per share on July 1, totaling $1,998,240, per SEC Form 4.
- Aggregate 90-day insider posture: $2.00M purchased vs. $3.35M sold across all filers.
- Forward P/E of 6.5x; consensus analyst price target of $4.40 against a current price of $3.64, per Yahoo Finance.
One Buyer, Three Sellers
Insiders buy for one reason; they sell for many. A deliberate open-market purchase of this size carries weight. Reading it in isolation misses the surrounding traffic.
Board member Mauricio Machado De Minas sold 29,800 shares at $17.56 on June 1 for $523,288, per Form 4. Director Ramalho Miranda Jose Augusto moved 10,292 shares at $18.00 on May 27 for $185,256, per Form 4. Those three exits exceed Bueno's purchase by roughly $1.35 million.
Two token purchases round out the record: Bueno added 41 more shares at $18.11 for $742.51 the same day, per Form 4, and VP Neto Jose Ramos Rocha picked up 57 shares at $17.68 for $1,007.76 on June 24, per Form 4. Neither moves the aggregate. Net result across all transactions: $2.00M in, $3.35M out.
The Discount Math
Strip out the insider noise and the stock looks, on paper, cheap. At $3.64 per share with a market capitalization of $38.48 billion and a forward P/E of 6.5x, BBD is not priced like a bank anyone expects to accelerate. The consensus analyst target of $4.40 implies roughly 21% upside from current levels. Trailing twelve-month revenue of $91.67 billion, up 10.5% year-over-year, shows the underlying business is not stagnant.
A 6.5x forward earnings multiple for a bank growing revenue at double digits reads like a value case on the surface. Whether that discount reflects genuine opportunity or embedded risk in the Brazilian banking market requires a deeper read on credit quality and currency exposure than the available data provides.
One Beat After Two Misses
One clean quarter doesn't establish a trend, but it removes a concern that was compounding.
The Honest Read
A CLO putting $2 million into his own bank's stock in the open market is a signal worth flagging. So is the fact that three directors quietly reduced exposure in the weeks before, totaling more in aggregate. Neither pattern is definitively bullish or bearish on its own: insiders have personal tax situations, diversification timelines, and liquidity needs that have nothing to do with conviction about the stock. But the directional split between the CLO's bet and the directors' exits complicates any clean narrative.
The valuation is optically cheap at 6.5x forward earnings, the analyst community prices in 21% upside, and revenue growth is real and accelerating modestly. Without additional disclosure on asset quality or a recent earnings transcript, a directional call isn't supportable on this evidence. The CLO is making one bet; several directors made a quieter counter-bet in the prior weeks.
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Basis Report does not hold positions in securities discussed. This is not investment advice.
Frequently Asked Questions
What does insider buying mean at Banco Bradesco?
Banco Bradesco's CLO, Julio Cesar Bueno, made a $1.998 million open-market purchase of BBD shares on July 1, 2026, a transaction type that typically signals an executive's conviction that the stock is undervalued. However, three director-level sellers collectively moved $3.35 million in shares over the same 90-day window, diluting the bullish read from Bueno's buy.
Is BBD stock undervalued right now?
By headline metrics, BBD trades at a forward P/E of 6.5x with a consensus analyst price target of $4.40 against a current price of $3.64, implying roughly 21% upside per the analyst consensus. The bank also reported 10.5% year-over-year revenue growth on $91.67 billion in trailing revenue, which is not reflected in that multiple. Whether the discount is opportunity or a signal of embedded risk is not answerable from the available data alone.
How has Banco Bradesco performed on earnings estimates?
The most recently reported quarter produced an EPS beat: $0.113 actual vs. $0.099 estimated. The two prior quarters both missed, with actuals of $0.110 vs. $0.111 and $0.105 vs. $0.112 estimated, so the recent beat follows a period of underperformance against consensus.
Who sold Banco Bradesco stock recently?
Director Rogerio Pedro Camara completed the largest single transaction in the 90-day window, selling 146,338 shares for $2.638 million on May 28, 2026. Board member Mauricio Machado De Minas and Director Ramalho Miranda Jose Augusto each added smaller sales in late May and early June, bringing the combined total to $3.35 million in director-level exits.
What is Banco Bradesco's market cap and revenue?
Banco Bradesco carries a market capitalization of $38.48 billion and trailing twelve-month revenue of $91.67 billion, with year-over-year revenue growth of 10.5%. The bank trades at a forward P/E of 6.5x, one of the lower multiples among major global financial institutions.
Banco Bradesco's CLO and Executive Officer Julio Cesar Bueno made a nearly $2 million open-market purchase of BBD shares on July 1, a striking insider bet on the Brazilian banking giant — even as the 90-day insider window tilts toward net selling by directors.