Banco Santander Brasil (BSBR) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Banco Santander Brasil (NYSE:BSBR) from a sell rating to a hold rating in a research note released on Monday morning.

According to Zacks, “Banco Santander, S.A. is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company’s commercial model satisfies the needs of all types of customers: individuals with various income levels. “

Other equities research analysts also recently issued reports about the company. BidaskClub raised Banco Santander Brasil from a hold rating to a buy rating in a research note on Wednesday, October 11th. ValuEngine downgraded Banco Santander Brasil from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. Finally, JPMorgan Chase & Co. raised Banco Santander Brasil from a neutral rating to an overweight rating and raised their price target for the stock from $8.00 to $10.00 in a research note on Wednesday, November 1st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Banco Santander Brasil presently has a consensus rating of Hold and an average target price of $14.25.

Banco Santander Brasil (NYSE BSBR) remained flat at $$9.89 on Monday. The stock had a trading volume of 895,400 shares, compared to its average volume of 1,552,457. Banco Santander Brasil has a 12-month low of $6.86 and a 12-month high of $11.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $37,090.00, a PE ratio of 15.22, a P/E/G ratio of 0.82 and a beta of 1.48.

The business also recently disclosed a special dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, January 9th will be paid a $0.1856 dividend. This is an increase from Banco Santander Brasil’s previous special dividend of $0.04. The ex-dividend date is Monday, January 8th. Banco Santander Brasil’s dividend payout ratio (DPR) is presently 44.62%.

Several hedge funds have recently modified their holdings of BSBR. Numeric Investors LLC raised its stake in shares of Banco Santander Brasil by 497.3% in the 2nd quarter. Numeric Investors LLC now owns 7,813,307 shares of the bank’s stock valued at $58,834,000 after acquiring an additional 6,505,126 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Banco Santander Brasil by 236.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,862,453 shares of the bank’s stock valued at $44,144,000 after acquiring an additional 4,119,776 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Banco Santander Brasil by 73.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 9,351,744 shares of the bank’s stock valued at $70,419,000 after acquiring an additional 3,960,380 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Banco Santander Brasil by 2,533.2% in the 2nd quarter. Macquarie Group Ltd. now owns 3,307,300 shares of the bank’s stock valued at $24,905,000 after buying an additional 3,181,700 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Banco Santander Brasil by 192,151.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,526,178 shares of the bank’s stock valued at $21,725,000 after buying an additional 2,524,864 shares during the last quarter. 1.56% of the stock is currently owned by institutional investors and hedge funds.

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About Banco Santander Brasil

Banco Santander (Brasil) SA (the Bank) is indirectly controlled by Banco Santander, SA, and is an institution of the Financial and Prudential Group. The Bank operates through two segments, Commercial Banking and Global Wholesale Banking. The Company conducts its operations by means of portfolios such as commercial, investment, lending and financing, mortgage lending, leasing, credit card operations and foreign exchange.

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