Banco Santander Brasil (NYSE:BSBR) Upgraded to “Hold” at Zacks Research

Banco Santander Brasil (NYSE:BSBR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

A number of other equities analysts have also issued reports on BSBR. UBS Group lowered shares of Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, August 24th. HSBC reiterated a “hold” rating and issued a $6.20 price target (down from $7.20) on shares of Banco Santander Brasil in a research report on Tuesday, September 15th. JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. Weiss Ratings upgraded Banco Santander Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Banco Santander Brasil currently has an average rating of “Hold” and a consensus price target of $6.10.

Banco Santander Brasil Stock Performance

NYSE:BSBR opened at $5.67 on Tuesday. The business has a 50 day simple moving average of $5.76 and a 200 day simple moving average of $5.64. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. Banco Santander Brasil has a 12-month low of $4.95 and a 12-month high of $7.32.

Insider Transactions at Banco Santander Brasil

In other Banco Santander Brasil news, insider Rudolf Gschliffner sold 11,507 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $5.73, for a total transaction of $65,935.11. Following the transaction, the insider directly owned 33,192 shares of the company’s stock, valued at $190,190.16. This represents a 25.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Edmilson Saes sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $5.79, for a total value of $289,500.00. Following the transaction, the vice president owned 300,203 shares in the company, valued at approximately $1,738,175.37. This trade represents a 14.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 233,438 shares of company stock valued at $1,338,299. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Banco Santander Brasil by 80.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,501 shares of the bank’s stock worth $25,000 after purchasing an additional 2,013 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after purchasing an additional 4,153 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Banco Santander Brasil during the 4th quarter worth about $36,000. Royal Bank of Canada boosted its stake in Banco Santander Brasil by 41.6% during 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. Finally, QRG Capital Management Inc. bought a new position in Banco Santander Brasil in the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 14.53% of the company’s stock.

About Banco Santander Brasil

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. It provides banking and financial services to individuals, small and midsize businesses, corporate clients and institutional customers throughout Brazil.

The company’s offerings include checking and savings accounts, consumer and commercial loans, credit and debit cards, mortgages, payroll lending, insurance, investment products, foreign-exchange services, cash management and payment solutions.