Banco Santander Brasil SA (NYSE:BSBR) Sees Large Growth in Short Interest

Banco Santander Brasil SA (NYSE:BSBR) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 11,126,167 shares, an increase of 64.7% from the July 30th total of 6,755,465 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,576,364 shares, the short-interest ratio is presently 2.0 days.

Banco Santander Brasil Trading Down 0.7%

Shares of NYSE BSBR traded down $0.04 during midday trading on Tuesday, reaching $5.71. 6,401,735 shares of the company were exchanged, compared to its average volume of 1,729,948. The stock’s 50-day moving average price is $5.48 and its 200-day moving average price is $5.74. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29. Banco Santander Brasil has a one year low of $4.94 and a one year high of $7.32.

Banco Santander Brasil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.1045 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Thursday, July 30th.

Insiders Place Their Bets

In related news, insider Mariana Cahen Margulies sold 42,545 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total value of $242,506.50. Following the transaction, the insider owned 40,275 shares in the company, valued at approximately $229,567.50. This trade represents a 51.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rudolf Gschliffner sold 11,507 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $5.73, for a total value of $65,935.11. Following the completion of 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 500,330 shares of company stock valued at $2,652,343 and sold 161,268 shares valued at $921,265. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Banco Santander Brasil

Several hedge funds have recently added to or reduced their stakes in BSBR. Royal Bank of Canada raised its stake in shares of Banco Santander Brasil by 288.1% during the fourth quarter. Royal Bank of Canada now owns 5,038 shares of the bank’s stock valued at $31,000 after acquiring an additional 3,740 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Banco Santander Brasil by 251.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after buying an additional 4,153 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Banco Santander Brasil during the 4th quarter worth about $36,000. Cubist Systematic Strategies LLC bought a new position in shares of Banco Santander Brasil during the first quarter worth about $46,000. Finally, May Hill Capital LLC acquired a new position in shares of Banco Santander Brasil in the fourth quarter worth approximately $83,000. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSBR has been the subject of several analyst reports. UBS Group cut shares of Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, August 24th. Zacks Research cut shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Wall Street Zen cut Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. downgraded Banco Santander Brasil from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $6.50 to $6.00 in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Banco Santander Brasil has a consensus rating of “Reduce” and an average price target of $6.00.

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.