BBD

Shares of Brazilian companies tumbled Monday following the unexpected re-election of President Luiz Inácio Lula da Silva.

Bradesco is downgraded from Buy to Hold with a new target price of $2.66, reflecting heightened macroeconomic and political risks. Despite solid Q3 results-net income up 14.6% YoY and efficiency improved to 45.4%-credit quality is deteriorating, with NPLs rising to 4.6% and coverage falling. The post-election selloff is attributed to increased uncertainty over Brazil's fiscal policy, surging interest rates, and consumer debt stress, not company-specific issues.

The expanded loan portfolio grew 11.1% year over year. Large corporate loans grew by over 50 billion Brazilian reais.

Shares of Brazilian companies tumbled Monday following the surprise re-election of President Luiz Inácio Lula da Silva.

Banco Bradesco S.A. ( BBD ) Q3 2026 Earnings Call October 23, 2026 9:30 AM EDT Company Participants Marcelo de Noronha - CEO & Member of Executive Board Andre Carvalho - Investor Relations Director Cassiano Scarpelli - CFO, Executive VP of Director & Member of Executive Board Conference Call Participants Daniel Vaz - J.

Banco Bradesco NYSE: BBD said it completed a BRL 10 billion capital increase and reported continued loan growth, higher revenue across several business lines and progress in its operating-efficiency and digital-transformation initiatives during its third-quarter earnings call.

The executive purchased 55,850 shares at $17.98 per share, representing a total transaction value of ~$1.0 million. The purchase was equivalent to 52% of the executive's prior equity stake in the financial institution.

The transaction involved 46,874 shares with a total value of ~$843,000 as of the transaction date. The purchase represented shares equal to 22% of the director's equity stake held before the filing.

The direct purchase of 63,719 shares represented a total investment of ~$1.1 million. The transaction size was equivalent to 41% of the stake held by the executive before the filing.

Director acquired 31,266 preference shares at an execution price of $17.98 per share, representing a total capital commitment of ~$562,163. The equity was acquired directly by Caffarelli and does not include any indirect holdings via trusts or legal entities.