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

Banco Santander Brasil SA (NYSE:BSBR) has received a consensus recommendation of “Reduce” from the four ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.50.

Several brokerages have recently commented on BSBR. Wall Street Zen lowered shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of Banco Santander Brasil from $7.00 to $6.50 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Weiss Ratings lowered Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Finally, Zacks Research cut Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd.

Insider Buying and Selling at Banco Santander Brasil

In related news, insider Eduardo Alvarez Garrido sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $5.43, for a total transaction of $40,725.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mario Roberto Opice Leao bought 276,851 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average price of $5.38 per share, with a total value of $1,489,458.38. Following the completion of the acquisition, the chief executive officer directly owned 536,751 shares in the company, valued at $2,887,720.38. This trade represents a 106.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 500,251 shares of company stock worth $2,651,888 in the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Aquamarine Financial Cayman Ltd increased its stake in Banco Santander Brasil by 8.6% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank’s stock worth $59,697,000 after buying an additional 775,000 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Banco Santander Brasil by 17.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank’s stock valued at $16,531,000 after buying an additional 430,531 shares during the period. Empowered Funds LLC purchased a new position in Banco Santander Brasil in the 4th quarter valued at approximately $9,772,000. Alpine Global Management LLC acquired a new position in shares of Banco Santander Brasil in the fourth quarter worth $4,735,000. Finally, Alliancebernstein L.P. grew its stake in shares of Banco Santander Brasil by 99.6% in the third quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock worth $1,829,000 after acquiring an additional 163,314 shares in the last quarter. Institutional investors and hedge funds own 14.53% of the company’s stock.

Banco Santander Brasil Stock Performance

Shares of BSBR stock opened at $5.12 on Thursday. Banco Santander Brasil has a 1-year low of $4.62 and a 1-year high of $7.32. The company has a 50-day moving average of $5.32 and a two-hundred day moving average of $5.90. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Thursday, July 30th will be paid a $0.1045 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 8.2%.

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.