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

Shares of Banco Santander Brasil SA (NYSE:BSBR) saw strong trading volume on Tuesday . 2,706,422 shares changed hands during mid-day trading, an increase of 138% from the previous session’s volume of 1,136,064 shares.The stock last traded at $5.1950 and had previously closed at $5.29.

Wall Street Analyst Weigh In

BSBR has been the subject of several recent analyst reports. Wall Street Zen raised Banco Santander Brasil from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings cut Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. JPMorgan Chase & Co. reduced their price objective on shares of Banco Santander Brasil from $7.00 to $6.50 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Zacks Research lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $6.50.

Banco Santander Brasil Trading Down 2.7%

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25. The stock’s 50-day moving average price is $5.46 and its 200-day moving average price is $6.00.

Banco Santander Brasil Dividend Announcement

The company also recently declared a special dividend, which was paid on Monday, May 18th. Shareholders of record on Thursday, April 23rd were issued a $0.1064 dividend. The ex-dividend date was Thursday, April 23rd.

Insider Buying and Selling

In other news, CEO Mario Roberto Opice Leao bought 276,851 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were bought 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. This trade represents a 106.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.43, for a total value of $40,725.00. Following the completion of the transaction, the insider owned 24,701 shares in the company, valued at approximately $134,126.43. This represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired 500,251 shares of company stock valued at $2,651,888 in the last three months. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Banco Santander Brasil by 288.1% during the fourth quarter. Royal Bank of Canada now owns 5,038 shares of the bank’s stock valued at $31,000 after buying an additional 3,740 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Banco Santander Brasil by 251.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock valued at $34,000 after acquiring an additional 4,153 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Banco Santander Brasil in the 4th quarter valued at about $36,000. Cubist Systematic Strategies LLC acquired a new position in Banco Santander Brasil during the 1st quarter valued at about $46,000. Finally, Tuttle Capital Management LLC bought a new stake in Banco Santander Brasil during the 4th quarter worth approximately $66,000. 14.53% of the stock is owned by 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.