Banco Santander Brasil (NYSE:BSBR) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Banco Santander Brasil's shares have surpassed their 200-day moving average, indicating potential positive momentum in the stock.
• The company recently announced a quarterly dividend of $0.0983, which represents a yield of 7.7%, up from the previous dividend of $0.07.
• Wall Street analysts maintain an average rating of “Hold” for the stock, with a target price of $5.35, while some have rated it as a “Buy.”

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.12 and traded as high as $5.15. Banco Santander Brasil shares last traded at $5.14, with a volume of 821,167 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BSBR. Wall Street Zen upgraded Banco Santander Brasil from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Banco Santander Brasil in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.35.

Banco Santander Brasil Trading Up 1.3%

The company has a market cap of $19.15 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 0.63 and a beta of 0.80. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 3.28. The business has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $5.12.

Banco Santander Brasil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Thursday, October 23rd will be issued a $0.0983 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $0.39 annualized dividend and a dividend yield of 7.7%. This is a boost from Banco Santander Brasil's previous quarterly dividend of $0.07. Banco Santander Brasil's dividend payout ratio (DPR) is presently 32.10%.

Institutional Trading of Banco Santander Brasil

Institutional investors and hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. increased its stake in Banco Santander Brasil by 553.9% during the second quarter. Hantz Financial Services Inc. now owns 6,997 shares of the bank's stock worth $38,000 after purchasing an additional 5,927 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Banco Santander Brasil during the 1st quarter worth approximately $46,000. Signaturefd LLC increased its position in shares of Banco Santander Brasil by 25.2% during the first quarter. Signaturefd LLC now owns 9,872 shares of the bank's stock worth $46,000 after acquiring an additional 1,986 shares during the period. Vident Advisory LLC purchased a new stake in shares of Banco Santander Brasil during the first quarter worth $50,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Banco Santander Brasil by 48.9% during the second quarter. Public Employees Retirement System of Ohio now owns 11,617 shares of the bank's stock worth $63,000 after acquiring an additional 3,813 shares during the period. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Santander Brasil

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.

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