Banco Santander Brasil (NYSE:BSBR) Stock: Insider Edmilson Saes Sells 50,000 Shares

Banco Santander Brasil SA (NYSE:BSBR) VP Edmilson Saes sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $5.79, for a total value of $289,500.00. Following the completion of the sale, the vice president owned 300,203 shares in the company, valued at approximately $1,738,175.37. This represents a 14.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Banco Santander Brasil Price Performance

NYSE:BSBR traded down $0.04 during midday trading on Monday, hitting $5.71. The company’s stock had a trading volume of 4,932,286 shares, compared to its average volume of 1,933,110. Banco Santander Brasil SA has a fifty-two week low of $4.94 and a fifty-two week high of $7.32. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s 50 day moving average is $5.72 and its 200-day moving average is $5.66.

Banco Santander Brasil Dividend Announcement

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

Institutional Trading of Banco Santander Brasil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. purchased a new stake in shares of Banco Santander Brasil during the 2nd quarter worth about $57,000. Engineers Gate Manager LP increased its position in shares of Banco Santander Brasil by 765.6% in the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock valued at $731,000 after buying an additional 123,100 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Banco Santander Brasil in the second quarter valued at approximately $476,000. EverSource Wealth Advisors LLC raised its stake in shares of 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. Finally, Royal Bank of Canada raised its stake in shares of Banco Santander Brasil by 41.6% during the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock worth $43,000 after buying an additional 2,098 shares during the period. Institutional investors and hedge funds own 14.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on BSBR shares. Zacks Research cut shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. 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. downgraded Banco Santander Brasil from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Weiss Ratings raised Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Finally, HSBC reissued a “hold” rating and issued a $6.20 price objective (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $6.10.

Banco Santander Brasil Company Profile

Banco Santander Brasil SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the company provides banking and financial services to individual customers, small and midsize businesses, corporations and institutional clients throughout Brazil.

Its offerings include checking and savings accounts, consumer and commercial lending, credit and debit cards, mortgages, insurance, investments, asset management, payment solutions and foreign-exchange services.