Banco Santander Brasil (NYSE:BSBR) Sets New 12-Month Low – What’s Next?

Banco Santander Brasil SA (NYSE:BSBR) shares hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $4.87 and last traded at $4.91, with a volume of 379,129 shares. The stock had previously closed at $5.55.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HSBC reiterated a “hold” rating and set a $6.20 price objective (down from $7.20) on shares of Banco Santander Brasil in a research report on Tuesday, September 15th. Weiss Ratings raised shares of Banco Santander Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. lowered shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $6.50 to $6.00 in a report on Thursday, July 30th. Finally, UBS Group downgraded Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.10.

Banco Santander Brasil Price Performance

The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 3.34. The business’s 50-day moving average is $5.75 and its 200-day moving average is $5.63.

Banco Santander Brasil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, October 22nd will be given a dividend of $0.0804 per share. The ex-dividend date is Thursday, October 22nd. This is a negative change from Banco Santander Brasil’s previous quarterly dividend of $0.1045. This represents a $0.32 annualized dividend and a dividend yield of 6.7%.

Insider Activity

In related news, insider Gustavo De Sousa Santos sold 29,200 shares of Banco Santander Brasil stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total value of $166,440.00. Following the completion of the transaction, the insider owned 53,023 shares in the company, valued at approximately $302,231.10. The trade was a 35.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Edmilson Saes sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $5.79, for a total transaction of $289,500.00. Following the completion of the sale, the vice president owned 300,203 shares in the company, valued at $1,738,175.37. The trade was a 14.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,438 shares of company stock valued at $1,338,299 in the last 90 days. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Banco Santander Brasil

A number of institutional investors have recently modified their holdings of BSBR. Dimensional Fund Advisors LP lifted its position in shares of Banco Santander Brasil by 43.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock valued at $1,316,000 after acquiring an additional 67,224 shares during the period. Engineers Gate Manager LP grew its holdings in Banco Santander Brasil by 765.6% during the 2nd 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 in the last quarter. SPX Gestao de Recursos Ltda raised its stake in Banco Santander Brasil by 58.9% during the first quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock valued at $515,000 after buying an additional 32,189 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Banco Santander Brasil by 9.4% in the first 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 in the last quarter. Finally, GAMMA Investing LLC boosted its position 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 purchasing an additional 3,877 shares during the period. 14.53% of the stock is owned by institutional investors and hedge funds.

About Banco Santander Brasil

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.