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

Shares of Banco Santander Brasil SA (NYSE:BSBR) have been assigned a consensus recommendation of “Reduce” from the five research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.00.

Several research analysts have recently commented on the company. Zacks Research downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Wall Street Zen cut Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. UBS Group lowered Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, August 24th. Weiss Ratings raised Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered 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 research note on Thursday, July 30th.

Banco Santander Brasil Stock Up 1.6%

BSBR stock opened at $5.82 on Monday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.29 and a quick ratio of 1.29. Banco Santander Brasil has a one year low of $4.94 and a one year high of $7.32. The company’s 50 day moving average price is $5.46 and its two-hundred day moving average price is $5.77.

Banco Santander Brasil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, July 30th were given a dividend of $0.1045 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.42 annualized dividend and a yield of 7.2%.

Insiders Place Their Bets

In other Banco Santander Brasil news, VP Cezar Augusto Janikian sold 6,600 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $5.72, for a total value of $37,752.00. Following the transaction, the vice president owned 47,007 shares in the company, valued at approximately $268,880.04. The trade was a 12.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rudolf Gschliffner sold 11,507 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $5.73, for a total transaction of $65,935.11. Following the transaction, the insider directly owned 33,192 shares of the company’s stock, valued at approximately $190,190.16. This trade represents a 25.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 500,251 shares of company stock worth $2,651,888 and have sold 161,268 shares worth $921,265. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Banco Santander Brasil

A number of large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in Banco Santander Brasil in the first quarter worth $46,000. Invesco Ltd. increased its position in Banco Santander Brasil by 9.7% during the 2nd quarter. Invesco Ltd. now owns 206,851 shares of the bank’s stock valued at $1,127,000 after purchasing an additional 18,307 shares during the period. Bank of America Corp DE increased its position in Banco Santander Brasil by 50.5% during the 2nd quarter. Bank of America Corp DE now owns 291,643 shares of the bank’s stock valued at $1,589,000 after purchasing an additional 97,875 shares during the period. BNP Paribas Financial Markets raised its holdings in Banco Santander Brasil by 3,302.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 57,974 shares of the bank’s stock worth $316,000 after purchasing an additional 56,270 shares in the last quarter. Finally, Engineers Gate Manager LP raised its holdings in Banco Santander Brasil by 40.9% in the 2nd quarter. Engineers Gate Manager LP now owns 18,910 shares of the bank’s stock worth $103,000 after purchasing an additional 5,490 shares in the last quarter. 14.53% of the stock is currently owned by institutional investors.

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.