Banco Santander Brasil (NYSE:BSBR) Earns “Hold” Rating from HSBC

Banco Santander Brasil (NYSE:BSBR)‘s stock had its “hold” rating reissued by investment analysts at HSBC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $6.20 target price on the bank’s stock, down from their previous target price of $7.20. HSBC’s price target suggests a potential upside of 4.11% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings raised Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Zacks Research lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Wall Street Zen cut shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group downgraded shares of Banco Santander Brasil from a “buy” rating to a “neutral” rating in a report on Monday, August 24th. Finally, JPMorgan Chase & Co. lowered shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $6.50 to $6.00 in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Banco Santander Brasil presently has an average rating of “Reduce” and an average target price of $6.10.

Banco Santander Brasil Trading Down 1.1%

BSBR opened at $5.96 on Tuesday. The stock has a 50-day moving average of $5.61 and a 200-day moving average of $5.69. Banco Santander Brasil has a 52-week low of $4.94 and a 52-week high of $7.32. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 3.34.

Insider Activity

In other Banco Santander Brasil news, insider Celso Mateus De Queiroz sold 29,299 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $5.78, for a total value of $169,348.22. Following the completion of the transaction, the insider owned 23,838 shares of the company’s stock, valued at $137,783.64. This represents a 55.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mariana Cahen Margulies sold 42,545 shares of the business’s 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 $242,506.50. Following the sale, the insider owned 40,275 shares in the company, valued at approximately $229,567.50. This represents a 51.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 162,638 shares of company stock worth $930,663. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Banco Santander Brasil

Several institutional investors and hedge funds have recently bought and sold shares of the business. Alpine Global Management LLC acquired a new position in Banco Santander Brasil in the fourth quarter worth about $4,735,000. Engineers Gate Manager LP boosted its holdings in Banco Santander Brasil by 765.6% during the second 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. Public Employees Retirement System of Ohio acquired a new stake in Banco Santander Brasil during the second quarter valued at approximately $476,000. Dimensional Fund Advisors LP grew its stake in shares of Banco Santander Brasil by 43.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 67,224 shares during the period. Finally, SPX Gestao de Recursos Ltda grew its stake in shares of Banco Santander Brasil by 58.9% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock valued at $515,000 after purchasing an additional 32,189 shares during the period. Institutional investors own 14.53% of the company’s stock.

About Banco Santander Brasil

Banco Santander Brasil SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the company provides banking and financial services to individual customers, small and midsize businesses, corporations and institutional clients throughout Brazil.

Its offerings include checking and savings accounts, consumer and commercial lending, credit and debit cards, mortgages, insurance, investments, asset management, payment solutions and foreign-exchange services.