Banco Santander Brasil SA (NYSE:BSBR) Short Interest Update

Key Points

• Short interest rose 33.5% to 2,406,526 shares as of March 13, producing a days-to-cover of 1.9 and representing about 0.1% of the company's shares sold short.
• The company paid a special dividend of $0.1001 per share (record date Jan 22, paid Feb 18); shares recently traded at $5.63, below the 50-day moving average of $6.41 and within a 1-year range of $4.26–$7.32.
• Insider Rafael Abujamra Kappaz sold 31,285 shares on March 18 (a 47.16% cut to his holding); insiders own 0.06% of the stock while institutional investors hold about 14.53% and analyst ratings remain mixed (average: Hold).

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 2,406,526 shares, a growth of 33.5% from the February 26th total of 1,802,734 shares. Based on an average daily trading volume, of 1,298,511 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.1% of the company's shares are sold short.

Banco Santander Brasil Trading Down 0.4%

Shares of Banco Santander Brasil stock traded down $0.03 during trading hours on Friday, reaching $5.63. 1,018,044 shares of the company were exchanged, compared to its average volume of 1,208,870. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.15. Banco Santander Brasil has a 1 year low of $4.26 and a 1 year high of $7.32. The stock's fifty day moving average is $6.41 and its 200 day moving average is $6.05.

Banco Santander Brasil Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, February 18th. Stockholders of record on Thursday, January 22nd were given a dividend of $0.1001 per share. The ex-dividend date of this dividend was Thursday, January 22nd.

Insider Buying and Selling at Banco Santander Brasil

In related news, insider Rafael Abujamra Kappaz sold 31,285 shares of the business's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $5.76, for a total value of $180,201.60. Following the sale, the insider owned 35,049 shares in the company, valued at approximately $201,882.24. The trade was a 47.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Institutional Trading of Banco Santander Brasil

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake 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 worth $31,000 after acquiring an additional 3,740 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Banco Santander Brasil in the 4th quarter valued at approximately $36,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Banco Santander Brasil in the 1st quarter valued at $46,000. Tuttle Capital Management LLC acquired a new stake in shares of Banco Santander Brasil in the 4th quarter valued at $66,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Banco Santander Brasil during the 4th quarter worth $76,000. Institutional investors and hedge funds own 14.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen raised Banco Santander Brasil from a "buy" rating to a "strong-buy" rating in a research report on Friday. Weiss Ratings cut shares of Banco Santander Brasil from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold".

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.

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