Banco Santander Brasil (NYSE:BSBR) Sees Strong Trading Volume – Here’s Why

Banco Santander Brasil SA (NYSE:BSBR) shares saw an uptick in trading volume on Wednesday . Approximately 2,806,125 shares changed hands during mid-day trading, an increase of 73% from the previous session’s volume of 1,624,800 shares.The stock last traded at $5.5750 and had previously closed at $5.60.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. JPMorgan Chase & Co. lowered Banco Santander Brasil from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $6.50 to $6.00 in a research report on Thursday, July 30th. Wall Street Zen downgraded Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research lowered Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $6.00.

Banco Santander Brasil Trading Down 0.8%

The company’s 50-day simple moving average is $5.40 and its 200 day simple moving average is $5.82. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29.

Banco Santander Brasil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Thursday, July 30th were given a dividend of $0.1045 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend was Thursday, July 30th.

Insider Buying and Selling at Banco Santander Brasil

In other Banco Santander Brasil news, insider Celso Mateus De Queiroz sold 29,299 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $5.78, for a total value of $169,348.22. Following the completion of the transaction, the insider owned 23,838 shares in the company, valued at $137,783.64. This represents a 55.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gustavo De Sousa Santos sold 29,200 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total value of $166,440.00. Following the sale, the insider directly owned 53,023 shares of the company’s stock, valued at approximately $302,231.10. This represents a 35.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders purchased 500,251 shares of company stock valued at $2,651,888 and sold 143,161 shares valued at $817,578. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Banco Santander Brasil

Several institutional investors have recently added to or reduced their stakes in BSBR. Aquamarine Financial Cayman Ltd increased its holdings in Banco Santander Brasil by 8.6% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank’s stock worth $59,697,000 after buying an additional 775,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Banco Santander Brasil by 17.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank’s stock valued at $16,531,000 after acquiring an additional 430,531 shares during the last quarter. Empowered Funds LLC purchased a new position in Banco Santander Brasil in the fourth quarter valued at about $9,772,000. Alpine Global Management LLC bought a new position in shares of Banco Santander Brasil during the 4th quarter valued at approximately $4,735,000. Finally, Alliancebernstein L.P. increased its stake in shares of Banco Santander Brasil by 99.6% during the 3rd quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock worth $1,829,000 after purchasing an additional 163,314 shares during the last quarter. Institutional investors own 14.53% of the company’s stock.

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.