Banco Santander Brasil (NYSE:BSBR) Downgraded by The Goldman Sachs Group to Strong Sell

Key Points

• Banco Santander Brasil has been downgraded by Goldman Sachs from a "hold" rating to a "strong sell" rating, underscoring a negative outlook for the company's stock.
• Despite the downgrade, the stock is currently rated as a "hold" by analysts overall, with a consensus price target of $5.35.
• Significant investment activity has been noted, with multiple institutional investors boosting their stakes in Banco Santander Brasil during the second quarter.

Banco Santander Brasil (NYSE:BSBR - Get Free Report) was downgraded by The Goldman Sachs Group from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Wall Street Zen upgraded Banco Santander Brasil from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Banco Santander Brasil in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Banco Santander Brasil currently has a consensus rating of "Hold" and a consensus price target of $5.35.

Banco Santander Brasil Stock Up 1.3%

Shares of NYSE:BSBR opened at $5.14 on Tuesday. Banco Santander Brasil has a 52-week low of $3.75 and a 52-week high of $5.65. The company has a market capitalization of $19.15 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 0.63 and a beta of 0.80. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.37 and a current ratio of 1.37. The company has a fifty day moving average of $5.25 and a 200-day moving average of $5.12.

Institutional Investors Weigh In On Banco Santander Brasil

Several large investors have recently modified their holdings of BSBR. Engineers Gate Manager LP boosted its position in Banco Santander Brasil by 40.9% during the second quarter. Engineers Gate Manager LP now owns 18,910 shares of the bank's stock valued at $103,000 after acquiring an additional 5,490 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Banco Santander Brasil by 3,302.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 57,974 shares of the bank's stock valued at $316,000 after purchasing an additional 56,270 shares during the period. Bank of America Corp DE boosted its position in shares of Banco Santander Brasil by 50.5% during the 2nd quarter. Bank of America Corp DE now owns 291,643 shares of the bank's stock valued at $1,589,000 after purchasing an additional 97,875 shares in the last quarter. Invesco Ltd. boosted its position in shares of Banco Santander Brasil by 9.7% during the 2nd quarter. Invesco Ltd. now owns 206,851 shares of the bank's stock valued at $1,127,000 after purchasing an additional 18,307 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Banco Santander Brasil by 5.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,526,757 shares of the bank's stock worth $13,771,000 after purchasing an additional 121,804 shares during the period. 14.53% of the stock is currently owned by institutional investors and hedge funds.

About Banco Santander Brasil

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.

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