Banco Santander Brasil (NYSE:BSBR) Sees Large Volume Increase – What’s Next?

Banco Santander Brasil SA (NYSE:BSBR) shares saw unusually-high trading volume on Tuesday . Approximately 2,706,422 shares were traded during mid-day trading, an increase of 138% from the previous session’s volume of 1,136,064 shares.The stock last traded at $5.1950 and had previously closed at $5.29.

Analyst Upgrades and Downgrades

BSBR has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Banco Santander Brasil from $7.00 to $6.50 and set an “overweight” rating on the stock in a research note on Tuesday. Zacks Research downgraded shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Wall Street Zen upgraded shares of Banco Santander Brasil from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings lowered shares of Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Banco Santander Brasil has a consensus rating of “Reduce” and an average target price of $6.50.

Banco Santander Brasil Trading Up 0.7%

The company has a debt-to-equity ratio of 3.25, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50-day simple moving average is $5.41 and its 200 day simple moving average is $5.99.

Banco Santander Brasil Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, May 18th. Investors of record on Thursday, April 23rd were issued a $0.1064 dividend. The ex-dividend date was Thursday, April 23rd.

Insider Buying and Selling

In other Banco Santander Brasil news, CEO Mario Roberto Opice Leao purchased 276,851 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were purchased at an average price of $5.38 per share, for a total transaction of $1,489,458.38. Following the completion of the transaction, the chief executive officer owned 536,751 shares in the company, valued at $2,887,720.38. This represents a 106.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of Banco Santander Brasil stock in a transaction that occurred on 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 owned 24,701 shares in the company, valued at approximately $134,126.43. This trade represents a 23.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 500,251 shares of company stock worth $2,651,888 over the last quarter. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Banco Santander Brasil

Hedge funds have recently modified their holdings of the stock. Checchi Capital Advisers LLC raised its position in shares of Banco Santander Brasil by 10.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 17,463 shares of the bank’s stock worth $107,000 after purchasing an additional 1,585 shares during the period. Mariner LLC boosted its position in shares of Banco Santander Brasil by 1.8% in the 4th quarter. Mariner LLC now owns 97,928 shares of the bank’s stock valued at $598,000 after purchasing an additional 1,732 shares during the period. Royal Bank of Canada boosted its position in shares of Banco Santander Brasil by 41.6% in the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock valued at $43,000 after purchasing an additional 2,098 shares during the period. GAMMA Investing LLC increased its stake in Banco Santander Brasil by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 24,316 shares of the bank’s stock worth $149,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Banco Santander Brasil by 1.1% in the 4th quarter. Invesco Ltd. now owns 232,826 shares of the bank’s stock worth $1,423,000 after purchasing an additional 2,631 shares in the last quarter. 14.53% of the stock is currently owned by institutional investors and hedge funds.

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.