Banco Santander Brasil (NYSE:BSBR) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Banco Santander Brasil from "strong-buy" to "buy" and Weiss Ratings cut it from "buy (b-)" to "hold (c+)", leaving the stock with a MarketBeat consensus rating of Hold.
• Company insiders sold a total of 207,105 shares worth about $1.22 million over the past 90 days, with two named executives each reducing their stakes by roughly 52%.
• Meanwhile, several institutional investors — including Empowered Funds, Alpine Global, Aquamarine, Arrowstreet and Millennium Management — added or increased positions, and institutions now own about 14.53% of the company.

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

Separately, Weiss Ratings cut Banco Santander Brasil from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Banco Santander Brasil presently has a consensus rating of "Hold".

Banco Santander Brasil Stock Performance

Shares of Banco Santander Brasil stock opened at $5.80 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.15. The firm's 50 day moving average price is $6.11 and its 200-day moving average price is $6.16. Banco Santander Brasil has a 52-week low of $4.62 and a 52-week high of $7.32.

Insider Transactions at Banco Santander Brasil

In related news, insider Alexandre Teixeira De Araujo sold 20,156 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $5.94, for a total value of $119,726.64. Following the transaction, the insider owned 18,071 shares in the company, valued at approximately $107,341.74. This represents a 52.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ana Paula Vitali Janes Vescovi sold 38,000 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $5.79, for a total transaction of $220,020.00. Following the transaction, the insider directly owned 33,926 shares of the company's stock, valued at $196,431.54. This represents a 52.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 207,105 shares of company stock valued at $1,215,422. 0.06% of the stock is owned by company insiders.

Institutional Trading of Banco Santander Brasil

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in shares of Banco Santander Brasil in the 4th quarter valued at about $9,772,000. Alpine Global Management LLC acquired a new stake in Banco Santander Brasil during the fourth quarter worth about $4,735,000. Aquamarine Financial Cayman Ltd grew its holdings in Banco Santander Brasil by 8.6% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank's stock worth $59,697,000 after acquiring an additional 775,000 shares during the period. Arrowstreet Capital Limited Partnership raised its position in 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 acquiring an additional 430,531 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Banco Santander Brasil by 2,671.0% in the third quarter. Millennium Management LLC now owns 326,451 shares of the bank's stock valued at $1,825,000 after acquiring an additional 314,670 shares during the period. 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.