Banco Santander Brasil (NYSE:BSBR) Insider Sells $169,348.22 in Stock

Key Points

• Insider Celso Mateus De Queiroz sold 29,299 shares of Banco Santander Brasil at an average price of $5.78, totaling $169,348.22. The sale reduced his direct ownership by 55.14% to 23,838 shares.
• BSBR recently traded at $5.75, down 0.3%, while the company announced a quarterly dividend of $0.1045 per share, representing an annualized yield of approximately 7.3%.
• Analyst sentiment is cautious: the stock has an average rating of “Reduce” and a consensus price target of $6.00, with recent downgrades from JPMorgan and Zacks Research.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) insider Celso Mateus De Queiroz sold 29,299 shares of Banco Santander Brasil stock in a transaction that occurred 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 directly owned 23,838 shares in the company, valued at approximately $137,783.64. This represents a 55.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Banco Santander Brasil Trading Down 0.3%

NYSE:BSBR traded down $0.01 on Tuesday, reaching $5.75. 8,786,125 shares of the stock traded hands, compared to its average volume of 1,472,596. 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 SA has a 1-year low of $4.74 and a 1-year high of $7.32. The company's 50 day moving average is $5.36 and its 200-day moving average is $5.86.

Banco Santander Brasil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Thursday, July 30th will be given a dividend of $0.1045 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.42 dividend on an annualized basis and a yield of 7.3%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Banco Santander Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. cut Banco Santander Brasil from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $6.50 to $6.00 in a research note on Thursday, July 30th. Weiss Ratings raised Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. Finally, Zacks Research cut Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $6.00.

Institutional Investors Weigh In On Banco Santander Brasil

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

About Banco Santander Brasil

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.

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