Banco Santander Brasil SA (NYSE:BSBR) Receives Consensus Recommendation of "Reduce" from Analysts

Key Points

• Analysts have a consensus “Reduce” rating on Banco Santander Brasil, with two sells, one hold and one buy. The average 12-month price target is $6.50, while JPMorgan recently lowered its target from $7.00 to $6.50.
• The stock opened at $5.12, below its 50-day and 200-day moving averages, and has traded between $4.62 and $7.32 over the past year.
• Banco Santander Brasil declared a quarterly dividend of $0.1045, equivalent to about $0.42 annually and an 8.2% dividend yield. Insiders have been net buyers over the past 90 days, purchasing roughly 500,251 shares.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) has received an average recommendation of "Reduce" from the four brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $6.50.

Several equities research analysts recently commented on BSBR shares. Wall Street Zen cut Banco Santander Brasil from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings cut Banco Santander Brasil from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, June 29th. JPMorgan Chase & Co. cut their target price on Banco Santander Brasil from $7.00 to $6.50 and set an "overweight" rating for the company in a research note on Tuesday, July 7th. Finally, Zacks Research downgraded Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research note on Friday, July 3rd.

Banco Santander Brasil Stock Down 6.7%

Shares of Banco Santander Brasil stock opened at $5.12 on Thursday. The stock's 50 day simple moving average is $5.32 and its 200-day simple moving average is $5.90. Banco Santander Brasil has a 1-year low of $4.62 and a 1-year high of $7.32. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Thursday, July 30th will be issued a $0.1045 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 8.2%.

Insider Activity

In other Banco Santander Brasil news, insider Eduardo Alvarez Garrido sold 7,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $5.43, for a total value of $40,725.00. Following the transaction, the insider directly owned 24,701 shares in the company, valued at $134,126.43. The trade was a 23.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mario Roberto Opice Leao purchased 276,851 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average cost of $5.38 per share, with a total value of $1,489,458.38. Following the purchase, the chief executive officer owned 536,751 shares in the company, valued at approximately $2,887,720.38. This trade represents a 106.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 500,251 shares of company stock valued at $2,651,888. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank's stock worth $34,000 after acquiring an additional 4,153 shares during the period. Royal Bank of Canada increased its stake in Banco Santander Brasil by 41.6% during the first quarter. Royal Bank of Canada now owns 7,136 shares of the bank's stock worth $43,000 after acquiring an additional 2,098 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Banco Santander Brasil by 9.4% in the first quarter. Public Employees Retirement System of Ohio now owns 81,609 shares of the bank's stock valued at $484,000 after purchasing an additional 6,982 shares during the period. Dimensional Fund Advisors LP raised its position in Banco Santander Brasil by 43.5% in the first quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank's stock valued at $1,316,000 after purchasing an additional 67,224 shares during the period. Finally, SPX Gestao de Recursos Ltda lifted its stake in shares of Banco Santander Brasil by 58.9% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank's stock valued at $515,000 after purchasing an additional 32,189 shares during the last quarter. 14.53% of the stock is currently owned by institutional investors and hedge funds.

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.