Banco Santander Brasil SA (NYSE:BSBR) Given Average Recommendation of "Reduce" by Analysts

Key Points

• Analysts rate Banco Santander Brasil “Reduce” on average: Two analysts recommend selling and four recommend holding, with an average 1-year price target of $6.10. Recent firms including HSBC, JPMorgan, UBS and Wall Street Zen lowered their ratings or price targets.
• Insiders have been selling shares: Insiders sold 162,638 shares worth approximately $930,663 over the past quarter, while insiders own just 0.06% of the company.
• The stock traded at $5.96 and offers a 7.0% dividend yield: BSBR remains near the middle of its 52-week range of $4.94 to $7.32, with institutional investors owning 14.53% of the shares.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) has been given an average rating of "Reduce" by the six analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.10.

Several equities analysts have recently issued reports on BSBR shares. HSBC reissued a "hold" rating and set a $6.20 target price (down from $7.20) on shares of Banco Santander Brasil in a research note on Tuesday. JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an "overweight" rating to a "neutral" rating and cut their price target for the company from $6.50 to $6.00 in a report on Thursday, July 30th. UBS Group downgraded shares of Banco Santander Brasil from a "buy" rating to a "neutral" rating in a research report on Monday, August 24th. Weiss Ratings raised shares of Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Banco Santander Brasil from a "buy" rating to a "hold" rating in a report on Sunday, July 12th.

Insider Buying and Selling

In other Banco Santander Brasil news, insider Mariana Cahen Margulies sold 42,545 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $242,506.50. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rudolf Gschliffner sold 11,507 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $5.73, for a total value of $65,935.11. Following the transaction, the insider owned 33,192 shares in the company, valued at $190,190.16. This trade represents a 25.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 162,638 shares of company stock valued at $930,663 over the last quarter. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BSBR. Alpine Global Management LLC purchased a new position in Banco Santander Brasil during the fourth quarter valued at $4,735,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Banco Santander Brasil in the 2nd quarter worth about $476,000. Engineers Gate Manager LP grew its position in shares of Banco Santander Brasil by 765.6% in the 2nd quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank's stock worth $731,000 after buying an additional 123,100 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Banco Santander Brasil by 23.2% in the 4th quarter. Hantz Financial Services Inc. now owns 48,228 shares of the bank's stock worth $295,000 after acquiring an additional 9,077 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Banco Santander Brasil by 251.5% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 14.53% of the company's stock.

Banco Santander Brasil Stock Performance

Shares of NYSE:BSBR opened at $5.96 on Friday. Banco Santander Brasil has a 1 year low of $4.94 and a 1 year high of $7.32. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. The stock's 50-day moving average is $5.66 and its 200 day moving average is $5.68.

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 paid a $0.1045 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Thursday, July 30th.

About Banco Santander Brasil

Banco Santander Brasil SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the company provides banking and financial services to individual customers, small and midsize businesses, corporations and institutional clients throughout Brazil.

Its offerings include checking and savings accounts, consumer and commercial lending, credit and debit cards, mortgages, insurance, investments, asset management, payment solutions and foreign-exchange services.

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