Banco Santander Brasil (NYSE:BSBR) Cut to “Neutral” at UBS Group

UBS Group downgraded shares of Banco Santander Brasil (NYSE:BSBR) from a buy rating to a neutral rating in a research report released on Monday morning, Marketbeat Ratings reports.

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

Banco Santander Brasil Price Performance

BSBR opened at $5.80 on Monday. 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 has a 52-week low of $4.94 and a 52-week high of $7.32. The stock’s 50 day moving average price is $5.44 and its 200-day moving average price is $5.77.

Banco Santander Brasil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Thursday, July 30th were given a dividend of $0.1045 per share. The ex-dividend date was Thursday, July 30th. This represents a $0.42 annualized dividend and a dividend yield of 7.2%.

Insider Buying and Selling

In other Banco Santander Brasil news, 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, for a total transaction of $1,489,458.38. Following the acquisition, the chief executive officer owned 536,751 shares in the company, valued at approximately $2,887,720.38. This represents a 106.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gustavo De Sousa Santos sold 29,200 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $166,440.00. Following the sale, the insider owned 53,023 shares in the company, valued at approximately $302,231.10. This trade represents a 35.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders bought 500,251 shares of company stock valued at $2,651,888 and sold 143,161 shares valued at $817,578. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Banco Santander Brasil

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in Banco Santander Brasil by 288.1% in the fourth quarter. Royal Bank of Canada now owns 5,038 shares of the bank’s stock worth $31,000 after purchasing an additional 3,740 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Banco Santander Brasil by 251.5% during the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock valued at $34,000 after purchasing an additional 4,153 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Banco Santander Brasil in the 4th quarter worth approximately $36,000. Cubist Systematic Strategies LLC bought a new stake in shares of Banco Santander Brasil in the 1st quarter worth approximately $46,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Banco Santander Brasil in the 3rd quarter worth approximately $78,000. Institutional investors own 14.53% of the company’s stock.

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.