JPMorgan Chase & Co. Upgrades Banco Santander (Brasil) (NYSE:BSBR) to Overweight

Banco Santander (Brasil) (NYSE:BSBR) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $6.00 price objective on the bank’s stock, down from their previous price objective of $7.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 32.45% from the company’s current price.

Separately, StockNews.com raised Banco Santander (Brasil) from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Banco Santander (Brasil) Stock Up 3.7 %

Shares of NYSE BSBR opened at $4.53 on Monday. Banco Santander has a twelve month low of $4.32 and a twelve month high of $6.66. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $4.99 and a 200-day simple moving average of $5.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of Banco Santander (Brasil) by 221.4% during the 3rd quarter. Barclays PLC now owns 12,428 shares of the bank’s stock worth $65,000 after acquiring an additional 8,561 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Banco Santander (Brasil) in the 3rd quarter valued at about $277,000. Wellington Management Group LLP lifted its holdings in shares of Banco Santander (Brasil) by 49.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,137,946 shares of the bank’s stock valued at $5,986,000 after purchasing an additional 375,364 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Banco Santander (Brasil) by 43.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 179,500 shares of the bank’s stock valued at $944,000 after purchasing an additional 54,600 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Banco Santander (Brasil) in the 3rd quarter valued at about $101,000. 14.53% of the stock is owned by institutional investors and hedge funds.

Banco Santander (Brasil) Company Profile

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.