Banco Santander Brasil (NYSE:BSBR) Stock Lifted to “Hold” by Zacks Research

Zacks Research upgraded shares of Banco Santander Brasil (NYSE:BSBR) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks reports.

BSBR has been the topic of a number of other reports. JPMorgan Chase & Co. cut Banco Santander Brasil from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $6.50 to $6.00 in a report on Thursday, July 30th. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings upgraded Banco Santander Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. UBS Group downgraded Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. Finally, HSBC reissued a “hold” rating and set a $6.20 target price (down from $7.20) on shares of Banco Santander Brasil in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Banco Santander Brasil has an average rating of “Hold” and a consensus target price of $6.10.

Banco Santander Brasil Trading Up 0.8%

BSBR opened at $5.67 on Tuesday. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. Banco Santander Brasil has a fifty-two week low of $4.95 and a fifty-two week high of $7.32. The firm’s fifty day moving average is $5.76 and its 200 day moving average is $5.64.

Banco Santander Brasil Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, October 22nd will be paid a $0.0804 dividend. This represents a $0.32 annualized dividend and a yield of 5.7%. The ex-dividend date is Thursday, October 22nd. This is a decrease from Banco Santander Brasil’s previous quarterly dividend of $0.1045.

Insider Buying and Selling at Banco Santander Brasil

In other Banco Santander Brasil news, insider Gustavo De Sousa Santos sold 29,200 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $166,440.00. Following the completion of the transaction, the insider owned 53,023 shares of the company’s stock, valued at $302,231.10. This represents a 35.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robson De Souza Rezende sold 39,874 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total value of $227,281.80. Following the transaction, the insider owned 31,003 shares of the company’s stock, valued at approximately $176,717.10. The trade was a 56.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 233,438 shares of company stock worth $1,338,299. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BSBR. Engineers Gate Manager LP lifted its position in Banco Santander Brasil by 765.6% during the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock valued at $731,000 after purchasing an additional 123,100 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Banco Santander Brasil in the 2nd quarter valued at about $476,000. GAMMA Investing LLC lifted its holdings in shares of Banco Santander Brasil by 20.9% in the 3rd quarter. GAMMA Investing LLC now owns 22,429 shares of the bank’s stock valued at $125,000 after acquiring an additional 3,877 shares during the last quarter. Farther Finance Advisors LLC grew its position in Banco Santander Brasil by 80.9% in the third quarter. Farther Finance Advisors LLC now owns 4,501 shares of the bank’s stock worth $25,000 after acquiring an additional 2,013 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Banco Santander Brasil in the second quarter worth about $57,000. 14.53% of the stock is currently owned by institutional investors.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. It provides banking and financial services to individuals, small and midsize businesses, corporate clients and institutional customers throughout Brazil.

The company’s offerings include checking and savings accounts, consumer and commercial loans, credit and debit cards, mortgages, payroll lending, insurance, investment products, foreign-exchange services, cash management and payment solutions.