Banco Santander Brasil (NYSE:BSBR) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Banco Santander Brasil from buy to hold, adding to a wave of cautious analyst sentiment on the stock.
• Other firms also turned less optimistic: JPMorgan cut its price target to $6.50, while Zacks and Weiss Ratings lowered their views, leaving the consensus rating at Reduce with a $6.50 target.
• Shares recently traded at $5.39, near their 50-day average, while insider activity showed the CEO buying a large stake even as one insider sold shares; institutional investors have also been increasing positions.

Banco Santander Brasil (NYSE:BSBR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Several other equities research analysts have also recently weighed in on BSBR. JPMorgan Chase & Co. dropped their price target on shares of Banco Santander Brasil from $7.00 to $6.50 and set an "overweight" rating for the company in a research report on Tuesday, July 7th. Zacks Research cut shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. Finally, Weiss Ratings cut Banco Santander Brasil from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Banco Santander Brasil has a consensus rating of "Reduce" and a consensus price target of $6.50.

Banco Santander Brasil Price Performance

Shares of NYSE BSBR traded up $0.26 during trading hours on Friday, reaching $5.39. 2,219,559 shares of the stock traded hands, compared to its average volume of 1,841,586. The company's 50-day simple moving average is $5.39 and its two-hundred day simple moving average is $5.98. 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 has a 52-week low of $4.62 and a 52-week high of $7.32.

Insider Activity at Banco Santander Brasil

In other Banco Santander Brasil news, CEO Mario Roberto Opice Leao acquired 276,851 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $5.38 per share, with a total value of $1,489,458.38. Following the completion of the acquisition, the chief executive officer owned 536,751 shares in the company, valued at $2,887,720.38. This represents a 106.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.43, for a total value of $40,725.00. Following the completion of the sale, the insider owned 24,701 shares of the company's stock, valued at $134,126.43. This trade represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 500,251 shares of company stock worth $2,651,888 in the last quarter. Company insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Banco Santander Brasil

Several large investors have recently made changes to their positions in BSBR. EverSource Wealth Advisors LLC raised 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 valued at $34,000 after purchasing an additional 4,153 shares in the last quarter. Royal Bank of Canada boosted its holdings in Banco Santander Brasil by 41.6% during the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank's stock valued at $43,000 after acquiring an additional 2,098 shares during the period. Public Employees Retirement System of Ohio grew its position in Banco Santander Brasil by 9.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 81,609 shares of the bank's stock valued at $484,000 after acquiring an additional 6,982 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Banco Santander Brasil by 43.5% in the first quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank's stock worth $1,316,000 after purchasing an additional 67,224 shares during the period. Finally, SPX Gestao de Recursos Ltda lifted its position in shares of Banco Santander Brasil by 58.9% during the first quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank's stock worth $515,000 after purchasing an additional 32,189 shares during the last quarter. 14.53% of the stock is owned by institutional investors.

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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