Banco Santander Brasil (NYSE:BSBR) Shares Gap Down - Here's Why

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.27, but opened at $5.11. Banco Santander Brasil shares last traded at $5.09, with a volume of 184,716 shares traded.

Analyst Upgrades and Downgrades

BSBR has been the topic of a number of analyst reports. Wall Street Zen raised Banco Santander Brasil from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. UBS Group raised Banco Santander Brasil from a "neutral" rating to a "buy" rating in a research report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.35.

Banco Santander Brasil Price Performance

The firm has a market capitalization of $18.68 billion, a P/E ratio of 6.20, a PEG ratio of 0.64 and a beta of 0.76. The company has a debt-to-equity ratio of 3.33, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a 50-day moving average of $5.30 and a 200-day moving average of $4.79.

Banco Santander Brasil Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, May 19th. Stockholders of record on Thursday, April 24th were issued a dividend of $0.0463 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a dividend yield of 3.97%. Banco Santander Brasil's payout ratio is 22.22%.

Hedge Funds Weigh In On Banco Santander Brasil

Several hedge funds and other institutional investors have recently modified their holdings of BSBR. Wellington Management Group LLP lifted its holdings in shares of Banco Santander Brasil by 74.0% during the 1st quarter. Wellington Management Group LLP now owns 1,606,117 shares of the bank's stock valued at $7,565,000 after buying an additional 683,045 shares during the period. Itau Unibanco Holding S.A. bought a new position in Banco Santander Brasil in the 4th quarter worth $983,000. Marshall Wace LLP raised its holdings in Banco Santander Brasil by 35.1% in the 4th quarter. Marshall Wace LLP now owns 750,403 shares of the bank's stock worth $2,934,000 after purchasing an additional 194,984 shares during the period. Cordatus Wealth Management LLC bought a new position in Banco Santander Brasil in the 1st quarter worth $611,000. Finally, Bank of America Corp DE raised its holdings in Banco Santander Brasil by 92.3% in the 4th quarter. Bank of America Corp DE now owns 256,119 shares of the bank's stock worth $1,001,000 after purchasing an additional 122,924 shares during the period. 14.53% of the stock is owned by institutional investors.

Banco Santander Brasil Company Profile

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.