Banco Santander Brasil (NYSE:BSBR) Sees Strong Trading Volume – Here’s What Happened

Banco Santander Brasil SA (NYSE:BSBR) shares saw unusually-high trading volume on Friday . 2,646,008 shares were traded during trading, an increase of 93% from the previous session’s volume of 1,367,698 shares.The stock last traded at $5.8350 and had previously closed at $5.79.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. JPMorgan Chase & Co. downgraded shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. Weiss Ratings raised shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $6.00.

Banco Santander Brasil Stock Up 0.3%

The company has a 50 day moving average of $5.35 and a 200 day moving average of $5.88. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.29 and a quick ratio of 1.29.

Banco Santander Brasil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Thursday, July 30th will be paid a dividend of $0.1045 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 7.2%.

Insider Buying and Selling at Banco Santander Brasil

In related news, CEO Mario Roberto Opice Leao acquired 276,851 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average cost of $5.38 per share, for a total transaction of $1,489,458.38. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mariana Cahen Margulies sold 42,545 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $242,506.50. Following the completion of the sale, the insider directly owned 40,275 shares in the company, valued at $229,567.50. This represents a 51.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 500,251 shares of company stock worth $2,651,888 and sold 120,952 shares worth $686,613. Insiders own 0.06% of the company’s stock.

Institutional Trading of Banco Santander Brasil

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 4,153 shares during the last quarter. Royal Bank of Canada increased its stake in Banco Santander Brasil by 41.6% during the first quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock worth $43,000 after acquiring an additional 2,098 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Banco Santander Brasil by 9.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 81,609 shares of the bank’s stock worth $484,000 after purchasing an additional 6,982 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Banco Santander Brasil by 43.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 67,224 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda grew its holdings in shares of Banco Santander Brasil by 58.9% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock worth $515,000 after purchasing an additional 32,189 shares during the period. 14.53% of the stock is owned by hedge funds and other institutional investors.

Banco Santander Brasil Company Profile

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.