Banco Santander Brasil (NYSE:BSBR) Downgraded to Hold at Zacks Investment Research

Banco Santander Brasil (NYSE:BSBR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

A number of other equities analysts have also issued reports on BSBR. ValuEngine lowered shares of Banco Santander Brasil from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Morgan Stanley raised shares of Banco Santander Brasil from an “equal” rating to a “weight” rating in a research note on Wednesday, August 7th. Goldman Sachs Group assumed coverage on shares of Banco Santander Brasil in a research report on Monday, June 10th. They set a “neutral” rating and a $12.00 price target on the stock. Finally, Citigroup upgraded shares of Banco Santander Brasil from a “neutral” rating to a “buy” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $12.50.

NYSE BSBR traded up $0.01 during trading hours on Wednesday, hitting $10.89. The company had a trading volume of 377,764 shares, compared to its average volume of 896,385. Banco Santander Brasil has a fifty-two week low of $7.92 and a fifty-two week high of $13.73. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $10.78 and a 200-day simple moving average of $11.40. The firm has a market cap of $41.00 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.82.

Banco Santander Brasil (NYSE:BSBR) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Banco Santander Brasil had a net margin of 15.45% and a return on equity of 14.88%. The firm had revenue of $4.08 billion during the quarter. Equities analysts forecast that Banco Santander Brasil will post 0.99 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in shares of Banco Santander Brasil by 21.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,703 shares of the bank’s stock worth $131,000 after purchasing an additional 2,096 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Banco Santander Brasil by 4,942.6% during the 1st quarter. Bank of Montreal Can now owns 60,108 shares of the bank’s stock valued at $675,000 after acquiring an additional 58,916 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Banco Santander Brasil during the 1st quarter valued at $26,000. NS Partners Ltd bought a new stake in shares of Banco Santander Brasil during the 1st quarter worth $674,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Banco Santander Brasil during the 1st quarter worth $938,000. 1.07% of the stock is owned by institutional investors.

About Banco Santander Brasil

Banco Santander (Brasil) SA provides commercial banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. It operates through two segments, Commercial Banking and Global Wholesale Banking. The company offers checking and savings accounts; priority services, such as withdrawals, debit cards, deposits, and transfers; onshore and offshore financial products and services, investment advice, and asset management services; consumer credit for purchasing motor vehicles, and other goods and services; local loans, commercial finance, trade finance, guarantees, structured loans, and cash management and funding solutions, as well as Banco Nacional de Desenvolvimento Econômico e Social on-lending transfer services; payroll, mortgage, and agribusiness loans, as well as microcredit; investment products; and credit cards and foreign exchange services.

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