Banco Santander Brasil (NYSE:BSBR) Sees Unusually-High Trading Volume – Time to Buy?

Banco Santander Brasil SA (NYSE:BSBR) shares saw strong trading volume on Wednesday . 2,335,933 shares changed hands during trading, an increase of 97% from the previous session’s volume of 1,183,368 shares.The stock last traded at $5.3850 and had previously closed at $5.39.

Wall Street Analyst Weigh In

A number of analysts recently commented on BSBR shares. JPMorgan Chase & Co. decreased their target price on Banco Santander Brasil from $7.00 to $6.50 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Zacks Research lowered Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Weiss Ratings cut Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Finally, Wall Street Zen downgraded Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday. One 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 data from MarketBeat, Banco Santander Brasil currently has an average rating of “Reduce” and an average target price of $6.50.

Banco Santander Brasil Trading Down 0.6%

The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s fifty day simple moving average is $5.37 and its 200-day simple moving average is $5.97.

Insider Buying and Selling

In other Banco Santander Brasil news, CEO Mario Roberto Opice Leao bought 276,851 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer directly owned 536,751 shares of the company’s stock, valued at approximately $2,887,720.38. This represents a 106.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $5.43, for a total value of $40,725.00. Following the sale, the insider directly owned 24,701 shares of the company’s stock, valued at $134,126.43. The trade was a 23.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 500,251 shares of company stock worth $2,651,888 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Banco Santander Brasil

Several large investors have recently made changes to their positions in BSBR. Cubist Systematic Strategies LLC purchased a new position in shares of Banco Santander Brasil during the 1st quarter valued at $46,000. Invesco Ltd. boosted its stake in Banco Santander Brasil by 9.7% during the second quarter. Invesco Ltd. now owns 206,851 shares of the bank’s stock valued at $1,127,000 after buying an additional 18,307 shares during the period. Bank of America Corp DE boosted its stake in Banco Santander Brasil by 50.5% during the second quarter. Bank of America Corp DE now owns 291,643 shares of the bank’s stock valued at $1,589,000 after buying an additional 97,875 shares during the period. BNP Paribas Financial Markets grew its position in Banco Santander Brasil by 3,302.2% during the second quarter. BNP Paribas Financial Markets now owns 57,974 shares of the bank’s stock worth $316,000 after buying an additional 56,270 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake 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 acquiring an additional 5,490 shares during the last quarter. 14.53% of the stock is owned by hedge funds and other institutional investors.

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.