Banco Santander Brasil SA (NYSE:BSBR) Receives Consensus Rating of “Reduce” from Brokerages

Banco Santander Brasil SA (NYSE:BSBR) has received an average recommendation of “Reduce” from the four brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.00.

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. downgraded shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $6.50 to $6.00 in a report on Thursday, July 30th. Finally, Zacks Research downgraded shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd.

Banco Santander Brasil Stock Performance

NYSE BSBR opened at $5.79 on Thursday. Banco Santander Brasil has a one year low of $4.74 and a one year high of $7.32. The business has a 50 day simple moving average of $5.33 and a 200 day simple moving average of $5.88. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.25.

Banco Santander Brasil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Thursday, July 30th will be paid a $0.1045 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Thursday, July 30th.

Insiders Place Their Bets

In other Banco Santander Brasil news, CEO Mario Roberto Opice Leao bought 276,851 shares of Banco Santander Brasil stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $5.38 per share, with a total value 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 trade represents a 106.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $5.43, for a total value of $40,725.00. Following the transaction, the insider directly owned 24,701 shares in the company, valued at $134,126.43. This trade represents a 23.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 500,251 shares of company stock valued at $2,651,888 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Banco Santander Brasil by 288.1% during the 4th 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 raised its stake 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 acquiring an additional 4,153 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Banco Santander Brasil during the fourth quarter worth about $36,000. Cubist Systematic Strategies LLC bought a new stake in shares of Banco Santander Brasil in the first quarter worth about $46,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Banco Santander Brasil during the 4th quarter valued at about $76,000. Institutional investors own 14.53% of the company’s stock.

About Banco Santander Brasil

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.