Banco Santander (Brasil) (NYSE:BSBR) Lifted to “Buy” at Bank of America

Bank of America upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a neutral rating to a buy rating in a report published on Monday, MarketBeat Ratings reports.

Banco Santander (Brasil) Price Performance

Shares of BSBR opened at $5.55 on Monday. Banco Santander has a 12-month low of $4.93 and a 12-month high of $6.66. The stock’s 50-day moving average price is $5.57 and its 200 day moving average price is $5.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.26 and a current ratio of 0.26.

Banco Santander (Brasil) Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 23rd will be given a $0.0792 dividend. This is an increase from Banco Santander (Brasil)’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $0.32 annualized dividend and a yield of 5.71%.

Hedge Funds Weigh In On Banco Santander (Brasil)

A number of large investors have recently modified their holdings of BSBR. Wellington Management Group LLP acquired a new stake in shares of Banco Santander (Brasil) during the fourth quarter worth $5,064,000. SPX Gestao de Recursos Ltda lifted its stake in Banco Santander (Brasil) by 570.9% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 715,921 shares of the bank’s stock valued at $4,689,000 after acquiring an additional 609,216 shares during the last quarter. Vinland Capital Management Gestora de Recursos LTDA. bought a new position in Banco Santander (Brasil) during the fourth quarter worth about $655,000. Jump Financial LLC acquired a new position in shares of Banco Santander (Brasil) during the 3rd quarter worth approximately $234,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Banco Santander (Brasil) during the 3rd quarter worth about $52,000. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander (Brasil) Company Profile

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.