Banco Santander Brasil SA (NYSE:BSBR) Receives Consensus Recommendation of “Reduce” from Brokerages

Banco Santander Brasil SA (NYSE:BSBR) has earned a consensus rating of “Reduce” from the four brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.00.

A number of research firms have issued reports on BSBR. Weiss Ratings raised Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. JPMorgan Chase & Co. downgraded Banco Santander Brasil from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $6.50 to $6.00 in a research note on Thursday, July 30th. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Zacks Research cut Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd.

Insiders Place Their Bets

In related news, CEO Mario Roberto Opice Leao purchased 276,851 shares of Banco Santander Brasil stock in a transaction dated Tuesday, June 16th. The stock was bought at an average cost 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 trade represents a 106.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the company’s 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 sale, the insider directly owned 24,701 shares in the company, valued at $134,126.43. This trade represents a 23.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 500,251 shares of company stock valued at $2,651,888 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Banco Santander Brasil

Several institutional investors and hedge funds have recently made changes to their positions in BSBR. Aquamarine Financial Cayman Ltd raised its holdings in shares of Banco Santander Brasil by 8.6% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank’s stock valued at $59,697,000 after buying an additional 775,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Banco Santander Brasil by 17.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank’s stock worth $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 during the 4th quarter valued at about $9,772,000. Alpine Global Management LLC purchased a new position in Banco Santander Brasil during the 4th quarter valued at $4,735,000. Finally, Alliancebernstein L.P. raised its stake in Banco Santander Brasil by 99.6% in the third quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock worth $1,829,000 after buying an additional 163,314 shares in the last quarter. Hedge funds and other institutional investors own 14.53% of the company’s stock.

Banco Santander Brasil Trading Up 1.1%

NYSE:BSBR opened at $5.74 on Thursday. Banco Santander Brasil has a 12 month low of $4.69 and a 12 month high of $7.32. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.25. The firm’s 50 day moving average is $5.32 and its 200 day moving average is $5.89.

Banco Santander Brasil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Thursday, July 30th will be issued a $0.1045 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.42 annualized dividend and a yield of 7.3%.

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.