BBAS3: Lower profit, dividend, and ROE, but well priced? Stock turns around and rises after 2Q

The expectation was already of weak numbers, but the second quarter of 2025 (2Q25) for Banco do Brasil (BBAS3) managed to disappoint the market even further, or was everything already priced in? After several weeks of downward revisions and successive negative signals, Banco do Brasil actually reported weak results in 2Q25, with a net profit of R$ 3.8 billion, a 60% annual drop, below the already reduced consensus. Revisions to guidance and a cut in dividends also complemented the negative scenario, although already relatively priced in by the market. As a result, the BBAS3 shares fell 2.22%, to R$ 19.41, at 10:10 am (Brasília time) on Friday (15), at the market open – a drop, but not so significant. Afterwards, they entered an auction, coming out of it with an even less intense drop: at 10:21 am, the devaluation was 0.91%, at R$ 19.67. By 11:33 am, the shares started to rise by 1.76%, to R$ 20.20.