Banco Santander Brasil SA (NYSE:BSBR) Given Consensus Rating of "Reduce" by Brokerages

Key Points

• Analysts maintain a cautious outlook: Banco Santander Brasil has a consensus “Reduce” rating, with two sell ratings and two hold ratings. The average 12-month price target is $6.00, below the stock’s recent high but above its reported opening price of $5.74.
• The stock offers a substantial dividend: The company recently paid a quarterly dividend of $0.1045 per share, equivalent to $0.42 annually and a reported yield of 7.3%.
• Insider trading was mixed but net positive: Insiders acquired 500,251 shares worth about $2.65 million over the past quarter, while selling 143,161 shares valued at approximately $818,000. Institutional investors and hedge funds own 14.53% of the company.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) has received an average rating of "Reduce" from the four brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.00.

BSBR has been the topic of a number of research reports. Weiss Ratings upgraded 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 downgraded shares of Banco Santander Brasil from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. 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, JPMorgan Chase & Co. downgraded shares of Banco Santander Brasil from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th.

Banco Santander Brasil Stock Performance

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

Banco Santander Brasil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Thursday, July 30th were issued a dividend of $0.1045 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.42 annualized dividend and a dividend yield of 7.3%.

Insider Activity

In other Banco Santander Brasil news, insider Mariana Cahen Margulies sold 42,545 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $242,506.50. Following the completion of the transaction, the insider owned 40,275 shares in the company, valued at approximately $229,567.50. This represents a 51.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mario Roberto Opice Leao bought 276,851 shares of Banco Santander Brasil stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average price of $5.38 per share, with a total value of $1,489,458.38. Following the purchase, the chief executive officer directly owned 536,751 shares in the company, valued at approximately $2,887,720.38. This trade represents a 106.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 500,251 shares of company stock valued at $2,651,888 and sold 143,161 shares valued at $817,578. Company insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Banco Santander Brasil by 288.1% in the fourth quarter. Royal Bank of Canada now owns 5,038 shares of the bank's stock valued at $31,000 after purchasing an additional 3,740 shares during the period. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 4,153 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Banco Santander Brasil during the 4th quarter worth approximately $36,000. Cubist Systematic Strategies LLC acquired a new position in Banco Santander Brasil during the 1st quarter worth approximately $46,000. Finally, Squarepoint Ops LLC acquired a new position in Banco Santander Brasil during the 3rd quarter worth approximately $78,000. 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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