Banco Santander Brasil (NYSE:BSBR) Shares Gap Up – Here’s Why

Banco Santander Brasil SA (NYSE:BSBR) shares gapped up prior to trading on Friday . The stock had previously closed at $5.05, but opened at $5.63. Banco Santander Brasil shares last traded at $5.6640, with a volume of 1,086,291 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BSBR shares. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings downgraded Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Zacks Research lowered Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Finally, JPMorgan Chase & Co. cut Banco Santander Brasil from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $6.50 to $6.00 in a report on Thursday. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $6.00.

Banco Santander Brasil Trading Up 13.2%

The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s 50-day moving average price is $5.31 and its 200-day moving average price is $5.89.

Banco Santander Brasil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Thursday, July 30th will be given a $0.1045 dividend. This represents a $0.42 annualized dividend and a yield of 7.3%. The ex-dividend date is Thursday, July 30th.

Insider Buying and Selling at Banco Santander Brasil

In other news, insider Eduardo Alvarez Garrido sold 7,500 shares of Banco Santander Brasil 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 completion of the sale, the insider directly owned 24,701 shares of the company’s stock, valued at approximately $134,126.43. This trade represents a 23.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mario Roberto Opice Leao bought 276,851 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average price of $5.38 per share, with a total value of $1,489,458.38. Following the transaction, the chief executive officer owned 536,751 shares of the company’s stock, valued at $2,887,720.38. The trade was a 106.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 500,251 shares of company stock worth $2,651,888. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Banco Santander Brasil

Several hedge funds have recently added to or reduced their stakes in the company. Aquamarine Financial Cayman Ltd lifted its position in Banco Santander Brasil by 8.6% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank’s stock valued at $59,697,000 after purchasing an additional 775,000 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Banco Santander Brasil during the 4th quarter worth approximately $4,735,000. Dimensional Fund Advisors LP raised its stake in shares of Banco Santander Brasil by 12.2% during the third quarter. Dimensional Fund Advisors LP now owns 126,752 shares of the bank’s stock worth $709,000 after buying an additional 13,789 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Banco Santander Brasil by 137.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 75,400 shares of the bank’s stock worth $461,000 after buying an additional 43,691 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Banco Santander Brasil during the third quarter worth approximately $78,000. Institutional investors own 14.53% of the company’s stock.

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.