Banco Santander Brasil (NYSE:BSBR) Lowered to Neutral Rating by UBS Group

Key Points

• UBS Group downgraded Banco Santander Brasil from “buy” to “neutral,” while other analysts also lowered their ratings. The stock has a consensus “Reduce” rating and a $6.00 target price.
• BSBR shares opened at $5.74, within a 52-week range of $4.88 to $7.32; the stock’s 50-day moving average was $5.42 and its 200-day moving average was $5.79.
• Two insiders sold a combined 71,745 shares at an average price of $5.70, although insiders purchased more shares than they sold over the prior 90 days. Institutional investors own 14.53% of the stock.

Banco Santander Brasil (NYSE:BSBR - Get Free Report) was downgraded by research analysts at UBS Group from a "buy" rating to a "neutral" rating in a report issued on Monday, Marketbeat reports.

Several other research analysts have also weighed in on the company. Wall Street Zen lowered Banco Santander Brasil from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. downgraded Banco Santander Brasil from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $6.50 to $6.00 in a report on Thursday, July 30th. Zacks Research cut shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research note on Friday, July 3rd. Finally, Weiss Ratings upgraded shares of Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $6.00.

Banco Santander Brasil Stock Performance

Shares of NYSE BSBR opened at $5.74 on Monday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29. The business has a 50-day moving average of $5.42 and a 200-day moving average of $5.79. Banco Santander Brasil has a fifty-two week low of $4.88 and a fifty-two week high of $7.32.

Insider Transactions at Banco Santander Brasil

In other news, insider Mariana Cahen Margulies sold 42,545 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total value of $242,506.50. Following the completion of the sale, the insider directly owned 40,275 shares of the company's stock, valued at $229,567.50. This trade represents a 51.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $166,440.00. Following the transaction, the insider owned 53,023 shares of the company's stock, valued at $302,231.10. This represents a 35.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 500,251 shares of company stock valued at $2,651,888 and have sold 143,161 shares valued at $817,578. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Banco Santander Brasil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSBR. Mariner LLC lifted its holdings in shares of Banco Santander Brasil by 1.8% during the fourth quarter. Mariner LLC now owns 97,928 shares of the bank's stock worth $598,000 after buying an additional 1,732 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Banco Santander Brasil by 41.6% in the first 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. Invesco Ltd. grew its stake in shares of Banco Santander Brasil by 1.1% in the fourth quarter. Invesco Ltd. now owns 232,826 shares of the bank's stock valued at $1,423,000 after acquiring an additional 2,631 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank's stock valued at $34,000 after acquiring an additional 4,153 shares in the last quarter. Finally, Engineers Gate Manager LP increased 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 worth $103,000 after acquiring an additional 5,490 shares during the period. 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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