Banco Santander (Brasil) (NYSE:BSBR) Downgraded to “Neutral” Rating by Bank of America

Bank of America lowered shares of Banco Santander (Brasil) (NYSE:BSBR) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat reports.

Other research analysts have also issued reports about the company. StockNews.com lowered Banco Santander (Brasil) from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised shares of Banco Santander (Brasil) from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $7.00 to $6.00 in a report on Monday, November 25th.

Banco Santander (Brasil) Price Performance

Shares of BSBR opened at $4.25 on Tuesday. The stock’s 50-day moving average price is $4.75 and its 200 day moving average price is $5.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. Banco Santander has a 12-month low of $4.05 and a 12-month high of $6.66.

Banco Santander (Brasil) Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, October 21st were paid a $0.0714 dividend. This represents a $0.29 annualized dividend and a yield of 6.72%. The ex-dividend date was Monday, October 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BSBR. Cubist Systematic Strategies LLC acquired a new stake in shares of Banco Santander (Brasil) during the 2nd quarter worth about $575,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Banco Santander (Brasil) by 107.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 378,361 shares of the bank’s stock worth $1,990,000 after buying an additional 196,141 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Banco Santander (Brasil) by 68.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,741 shares of the bank’s stock valued at $99,000 after acquiring an additional 7,608 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Banco Santander (Brasil) by 8.5% in the 2nd quarter. American Century Companies Inc. now owns 409,483 shares of the bank’s stock worth $2,023,000 after acquiring an additional 32,238 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Banco Santander (Brasil) by 41.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the bank’s stock valued at $71,000 after purchasing an additional 4,387 shares in the last quarter. 14.53% of the stock is owned by institutional investors.

About Banco Santander (Brasil)

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.