Banco Santander Brasil (NYSE:BSBR) Sees Strong Trading Volume – Still a Buy?

Shares of Banco Santander Brasil SA (NYSE:BSBR) saw an uptick in trading volume on Tuesday . 1,621,318 shares were traded during trading, a decline of 4% from the previous session’s volume of 1,692,804 shares.The stock last traded at $5.7850 and had previously closed at $5.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Banco Santander Brasil from an “overweight” rating to a “neutral” rating and cut their price target for the company from $6.50 to $6.00 in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group lowered Banco Santander Brasil from a “buy” rating to a “neutral” rating in a report on Monday, August 24th. Zacks Research downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. 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 investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $6.00.

Banco Santander Brasil Trading Up 3.0%

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25. The firm’s 50-day moving average price is $5.50 and its 200-day moving average price is $5.74.

Banco Santander Brasil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, July 30th were issued a dividend of $0.1045 per share. This represents a $0.42 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Thursday, July 30th.

Insider Activity

In related news, insider Celso Mateus De Queiroz sold 29,299 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $5.78, for a total transaction of $169,348.22. Following the completion of the transaction, the insider directly owned 23,838 shares of the company’s stock, valued at approximately $137,783.64. This represents a 55.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robson De Souza Rezende sold 39,874 shares of the firm’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 $227,281.80. Following the transaction, the insider owned 31,003 shares of the company’s stock, valued at $176,717.10. This represents a 56.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 500,330 shares of company stock valued at $2,652,343 and have sold 161,268 shares valued at $921,265. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BSBR. Royal Bank of Canada raised its stake in 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 purchasing an additional 3,740 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Banco Santander Brasil by 251.5% in 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Banco Santander Brasil in the 4th quarter worth $36,000. Cubist Systematic Strategies LLC bought a new stake in shares of Banco Santander Brasil in the 1st quarter worth about $46,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Banco Santander Brasil during the 3rd quarter valued at about $78,000. 14.53% of the stock is owned by hedge funds and other 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.