Banco Santander Brasil SA (NYSE:BSBR) Sees Large Growth in Short Interest

Key Points

• Banco Santander Brasil experienced a significant increase in short interest of 106.9%, rising to 4,220,000 shares by the end of August.
• Institutional investors have ramped up their holdings, with GAMMA Investing LLC increasing its position by 793.8% during the first quarter.
• The bank recently declared a quarterly dividend of $0.0655, reflecting a 4.9% dividend yield, which is an increase from its previous payout.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 4,220,000 shares, an increase of 106.9% from the August 15th total of 2,040,000 shares. Based on an average daily volume of 657,300 shares, the short-interest ratio is currently 6.4 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 657,300 shares, the short-interest ratio is currently 6.4 days.

Hedge Funds Weigh In On Banco Santander Brasil

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Banco Santander Brasil by 793.8% during the first quarter. GAMMA Investing LLC now owns 74,814 shares of the bank's stock worth $352,000 after purchasing an additional 66,444 shares during the period. American Century Companies Inc. increased its position in Banco Santander Brasil by 11.9% during the 1st quarter. American Century Companies Inc. now owns 614,264 shares of the bank's stock valued at $2,893,000 after purchasing an additional 65,333 shares during the period. Bank of America Corp DE grew its position in shares of Banco Santander Brasil by 92.3% during the 4th quarter. Bank of America Corp DE now owns 256,119 shares of the bank's stock worth $1,001,000 after buying an additional 122,924 shares during the period. Wellington Management Group LLP grew its position 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 worth $7,565,000 after buying an additional 683,045 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Banco Santander Brasil by 67.3% during the 4th quarter. BNP Paribas Financial Markets now owns 71,216 shares of the bank's stock worth $278,000 after buying an additional 28,658 shares during the period. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BSBR. Wall Street Zen raised shares of Banco Santander Brasil from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group upgraded shares of 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 Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $5.35.

Banco Santander Brasil Stock Down 1.4%

Shares of BSBR stock traded down $0.08 during trading on Friday, reaching $5.38. The company's stock had a trading volume of 477,995 shares, compared to its average volume of 863,890. The business has a fifty day moving average price of $5.03 and a 200-day moving average price of $5.00. 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 company has a market cap of $20.05 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.67 and a beta of 0.80. Banco Santander Brasil has a one year low of $3.75 and a one year high of $5.67.

Banco Santander Brasil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.0655 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.9%. This is a boost from Banco Santander Brasil's previous quarterly dividend of $0.05. The ex-dividend date was Monday, July 21st. Banco Santander Brasil's dividend payout ratio is currently 33.33%.

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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