Banco Santander Brasil SA (NYSE:BSBR) Given Consensus Rating of “Reduce” by Analysts

Shares of Banco Santander Brasil SA (NYSE:BSBR) have received an average rating of “Reduce” from the six brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.10.

A number of equities research analysts have recently commented on BSBR shares. Zacks Research cut Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. JPMorgan Chase & Co. lowered Banco Santander Brasil from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, HSBC restated a “hold” rating and set a $6.20 price objective (down from $7.20) on shares of Banco Santander Brasil in a research note on Tuesday.

Insider Activity

In related news, insider Mariana Cahen Margulies sold 42,545 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total value of $242,506.50. Following the sale, the insider owned 40,275 shares in the company, valued at approximately $229,567.50. This trade represents a 51.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gustavo De Sousa Santos sold 29,200 shares of Banco Santander Brasil stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $166,440.00. Following the completion of the sale, the insider directly owned 53,023 shares of the company’s stock, valued at approximately $302,231.10. This trade represents a 35.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 162,638 shares of company stock worth $930,663. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Banco Santander Brasil

A number of institutional investors and hedge funds have recently modified their holdings of BSBR. Engineers Gate Manager LP increased its position in Banco Santander Brasil by 765.6% during the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock valued at $731,000 after acquiring an additional 123,100 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Banco Santander Brasil in the second quarter valued at about $476,000. EverSource Wealth Advisors LLC boosted its position in 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 last quarter. Royal Bank of Canada boosted its position in Banco Santander Brasil by 41.6% in the first quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock worth $43,000 after purchasing an additional 2,098 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Banco Santander Brasil by 43.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 67,224 shares during the period. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander Brasil Stock Performance

Banco Santander Brasil stock opened at $5.96 on Friday. Banco Santander Brasil has a twelve month low of $4.94 and a twelve month high of $7.32. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. The stock’s 50 day moving average is $5.66 and its 200 day moving average is $5.68.

Banco Santander Brasil Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.42 annualized dividend and a dividend yield of 7.0%.

About Banco Santander Brasil

Banco Santander Brasil SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the company provides banking and financial services to individual customers, small and midsize businesses, corporations and institutional clients throughout Brazil.

Its offerings include checking and savings accounts, consumer and commercial lending, credit and debit cards, mortgages, insurance, investments, asset management, payment solutions and foreign-exchange services.