Banco Santander Brasil (NYSE:BSBR) Insider Sells $227,281.80 in Stock

Key Points

• Insider sale: Robson De Souza Rezende sold 39,874 shares of Banco Santander Brasil at an average price of $5.70, generating $227,281.80. The transaction reduced his direct ownership by 56.26% to 31,003 shares.
• Analyst sentiment weakened: Recent downgrades from Wall Street Zen, Zacks Research and JPMorgan left the stock with an average rating of “Reduce” and an average price target of $6.00.
• Dividend and trading update: Shares recently traded at $5.79, while the company declared a quarterly dividend of $0.1045 per share, equivalent to an annualized yield of about 7.2%.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) insider Robson De Souza Rezende sold 39,874 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $227,281.80. Following the completion of the transaction, the insider directly owned 31,003 shares of the company's stock, valued at approximately $176,717.10. The trade was a 56.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Banco Santander Brasil Trading Up 0.1%

Shares of NYSE BSBR traded up $0.01 during midday trading on Thursday, reaching $5.79. 2,121,644 shares of the company's stock were exchanged, compared to its average volume of 1,362,379. Banco Santander Brasil SA has a 52-week low of $4.74 and a 52-week 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 business's fifty day moving average price is $5.33 and its two-hundred day moving average price is $5.88.

Banco Santander Brasil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Thursday, July 30th will be paid a dividend of $0.1045 per share. This represents a $0.42 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Thursday, July 30th.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen cut Banco Santander Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Zacks Research cut shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. JPMorgan Chase & Co. downgraded shares of Banco Santander Brasil from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $6.50 to $6.00 in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Two equities research 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, the stock presently has an average rating of "Reduce" and an average target price of $6.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Banco Santander Brasil by 288.1% in the 4th quarter. Royal Bank of Canada now owns 5,038 shares of the bank's stock valued at $31,000 after acquiring an additional 3,740 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Banco Santander Brasil by 251.5% during 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. Caitong International Asset Management Co. Ltd acquired a new position in Banco Santander Brasil in the fourth quarter worth $36,000. Cubist Systematic Strategies LLC acquired a new position in Banco Santander Brasil in the first quarter worth $46,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Banco Santander Brasil during the fourth quarter valued at $76,000. Institutional investors and hedge funds own 14.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source