Banco Santander Brasil (NYSE:BSBR) Sets New 12-Month High – Here’s Why

Shares of Banco Santander Brasil SA (NYSE:BSBR) hit a new 52-week high on Tuesday . The stock traded as high as $6.49 and last traded at $6.4550, with a volume of 39040 shares trading hands. The stock had previously closed at $6.37.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BSBR shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Santander Brasil in a research note on Tuesday, November 25th. Wall Street Zen upgraded shares of Banco Santander Brasil from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group cut shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.70.

Banco Santander Brasil Trading Up 2.6%

The stock’s 50 day simple moving average is $5.74 and its two-hundred day simple moving average is $5.37. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.37 and a current ratio of 1.37.

Banco Santander Brasil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Thursday, October 23rd were given a dividend of $0.0983 per share. This represents a $0.39 dividend on an annualized basis and a yield of 6.0%. This is a boost from Banco Santander Brasil’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, October 23rd.

Hedge Funds Weigh In On Banco Santander Brasil

Several hedge funds and other institutional investors have recently modified their holdings of BSBR. Wellington Management Group LLP increased its position in Banco Santander Brasil by 74.0% during the 1st quarter. Wellington Management Group LLP now owns 1,606,117 shares of the bank’s stock worth $7,565,000 after purchasing an additional 683,045 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Banco Santander Brasil by 17.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank’s stock worth $16,531,000 after buying an additional 430,531 shares during the period. Millennium Management LLC increased its position in shares of Banco Santander Brasil by 2,671.0% in the third quarter. Millennium Management LLC now owns 326,451 shares of the bank’s stock worth $1,825,000 after acquiring an additional 314,670 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Banco Santander Brasil by 821.9% in the 3rd quarter. Citadel Advisors LLC now owns 183,769 shares of the bank’s stock valued at $1,027,000 after acquiring an additional 163,835 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Banco Santander Brasil by 99.6% during the 3rd quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock valued at $1,829,000 after acquiring an additional 163,314 shares in the last quarter. 14.53% of the stock is owned by institutional investors and hedge funds.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.