Banco Santander Brasil SA (NYSE:BSBR) Sees Large Growth in Short Interest

Banco Santander Brasil SA (NYSE:BSBR) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 6,255,524 shares, an increase of 73.6% from the May 31st total of 3,604,037 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 1,573,854 shares, the days-to-cover ratio is currently 4.0 days.

Insiders Place Their Bets

In other Banco Santander Brasil news, insider Eduardo Alvarez Garrido sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.43, for a total value of $40,725.00. Following the sale, the insider owned 24,701 shares of the company’s stock, valued at approximately $134,126.43. This represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mario Roberto Opice Leao purchased 276,851 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average cost of $5.38 per share, with a total value of $1,489,458.38. Following the purchase, the chief executive officer directly owned 536,751 shares in the company, valued at approximately $2,887,720.38. The trade was a 106.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 500,251 shares of company stock worth $2,651,888. 0.06% of the stock is owned by company insiders.

Institutional Trading of Banco Santander Brasil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Banco Santander Brasil by 288.1% during the 4th quarter. Royal Bank of Canada now owns 5,038 shares of the bank’s stock valued at $31,000 after acquiring an additional 3,740 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Banco Santander Brasil by 251.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after purchasing an additional 4,153 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Banco Santander Brasil in the 4th quarter valued at $36,000. Cubist Systematic Strategies LLC acquired a new stake in Banco Santander Brasil in the 1st quarter valued at $46,000. Finally, Tuttle Capital Management LLC purchased a new position in Banco Santander Brasil in the fourth quarter valued at about $66,000. Hedge funds and other institutional investors own 14.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BSBR shares. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Banco Santander Brasil presently has an average rating of “Reduce”.

Banco Santander Brasil Price Performance

BSBR stock traded up $0.01 during midday trading on Thursday, hitting $5.21. The stock had a trading volume of 915,856 shares, compared to its average volume of 1,126,150. The company’s 50-day moving average price is $5.50 and its 200 day moving average price is $6.01. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.25. Banco Santander Brasil has a 12-month low of $4.62 and a 12-month high of $7.32.

Banco Santander Brasil Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, May 18th. Investors of record on Thursday, April 23rd were given a dividend of $0.1064 per share. The ex-dividend date was Thursday, April 23rd.

About Banco Santander Brasil

Banco Santander Brasil SA is the Brazilian unit of Spain-based Grupo Santander and one of the country’s major commercial banks. Headquartered in São Paulo, the bank serves a broad client base across Brazil through an integrated network of branches, ATMs and digital channels. Its shares are represented abroad via American Depositary Shares listed on the New York Stock Exchange under the ticker BSBR.

The bank offers a full range of financial products and services for retail, small and medium-sized enterprises, and corporate clients.