Banco Santander Brasil (NYSE:BSBR) Sees Strong Trading Volume - Time to Buy?

Key Points

• BSBR trading volume surged 93% to 2.65 million shares, while the stock rose 0.4% to $5.835. Its 50-day moving average is $5.34 versus $5.88 for the 200-day average.
• Analyst sentiment remains cautious: ratings include two Holds and two Sells, producing a consensus “Reduce” rating and an average price target of $6.00. JPMorgan recently cut its target from $6.50 to $6.00.
• Banco Santander Brasil declared a quarterly dividend of $0.1045, equivalent to about $0.42 annually and a 7.2% yield. Insider activity was net positive over the past 90 days, with executives buying more shares than they sold.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) shares saw unusually-high trading volume on Friday . 2,646,008 shares were traded during trading, an increase of 93% from the previous session's volume of 1,367,698 shares.The stock last traded at $5.8350 and had previously closed at $5.79.

Analysts Set New Price Targets

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

Banco Santander Brasil Stock Up 0.4%

The firm's 50-day moving average price is $5.34 and its 200-day moving average price is $5.88. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.25.

Banco Santander Brasil Announces Dividend

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

Insider Activity at Banco Santander Brasil

In other Banco Santander Brasil news, CEO Mario Roberto Opice Leao acquired 276,851 shares of the stock in a transaction on Tuesday, June 16th. The stock was purchased at an average price of $5.38 per share, for a total transaction of $1,489,458.38. Following the purchase, the chief executive officer directly owned 536,751 shares in the company, valued at $2,887,720.38. This trade represents a 106.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider owned 31,003 shares in the company, valued at approximately $176,717.10. This trade represents a 56.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 500,251 shares of company stock valued at $2,651,888 and sold 120,952 shares valued at $686,613. Insiders own 0.06% of the company's stock.

Institutional Trading of Banco Santander Brasil

Institutional investors and hedge funds have recently made changes to their positions in the stock. Checchi Capital Advisers LLC increased its holdings in shares of Banco Santander Brasil by 10.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 17,463 shares of the bank's stock valued at $107,000 after purchasing an additional 1,585 shares during the period. Mariner LLC lifted its holdings in Banco Santander Brasil by 1.8% in the fourth quarter. Mariner LLC now owns 97,928 shares of the bank's stock worth $598,000 after purchasing an additional 1,732 shares during the period. Royal Bank of Canada lifted its holdings in Banco Santander Brasil by 41.6% in the first quarter. Royal Bank of Canada now owns 7,136 shares of the bank's stock worth $43,000 after purchasing an additional 2,098 shares during the period. Invesco Ltd. grew its position in Banco Santander Brasil by 1.1% in the 4th quarter. Invesco Ltd. now owns 232,826 shares of the bank's stock valued at $1,423,000 after buying an additional 2,631 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Banco Santander Brasil by 251.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank's stock valued at $34,000 after buying an additional 4,153 shares in the last quarter. 14.53% of the stock is currently owned by institutional investors and hedge funds.

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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