Banco Santander Brasil SA (NYSE:BSBR) Stock Has Average Price Target of $6.10 According to Analysts

Key Points

• Analysts have a consensus “Reduce” rating on Banco Santander Brasil, with two sell, three hold, and one buy recommendation. The average 12-month price target is $6.10, modestly above the stock’s $5.79 opening price.
• The company recently paid a quarterly dividend of $0.1045, equivalent to approximately $0.42 annually and a 7.2% yield.
• Insiders sold 233,438 shares worth about $1.34 million over the past three months, while institutional investors own 14.53% of the company.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) has been given a consensus recommendation of "Reduce" by the six analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.10.

A number of brokerages have issued reports on BSBR. Zacks Research downgraded shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research report on Friday, July 3rd. 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 report on Tuesday, September 15th. Wall Street Zen downgraded Banco Santander Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. UBS Group downgraded Banco Santander Brasil from a "buy" rating to a "neutral" rating in a research note on Monday, August 24th. Finally, Weiss Ratings raised Banco Santander Brasil from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday.

Banco Santander Brasil Price Performance

BSBR opened at $5.79 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 3.34. The firm's fifty day moving average price is $5.78 and its two-hundred day moving average price is $5.65. Banco Santander Brasil has a 1 year low of $4.94 and a 1 year high of $7.32.

Banco Santander Brasil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders 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 7.2%. The ex-dividend date was Thursday, July 30th.

Insider Transactions at Banco Santander Brasil

In other news, insider Mariana Cahen Margulies sold 42,545 shares of the firm's stock in a transaction 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 completion of the sale, the insider directly owned 40,275 shares of the company's stock, valued at $229,567.50. This trade represents a 51.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gustavo De Sousa Santos sold 29,200 shares of Banco Santander Brasil stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total value of $166,440.00. Following the sale, the insider owned 53,023 shares in the company, valued at $302,231.10. The trade was a 35.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 233,438 shares of company stock worth $1,338,299. Company insiders own 0.06% of the company's stock.

Institutional Trading of Banco Santander Brasil

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Banco Santander Brasil by 20.9% in the 3rd quarter. GAMMA Investing LLC now owns 22,429 shares of the bank's stock worth $125,000 after acquiring an additional 3,877 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Banco Santander Brasil by 80.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,501 shares of the bank's stock valued at $25,000 after acquiring an additional 2,013 shares during the period. QRG Capital Management Inc. purchased a new stake in Banco Santander Brasil during the second quarter valued at about $57,000. Engineers Gate Manager LP lifted its holdings in Banco Santander Brasil by 765.6% during the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank's stock valued at $731,000 after purchasing an additional 123,100 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Banco Santander Brasil during the second quarter valued at about $476,000. Hedge funds and other institutional investors own 14.53% of the company's stock.

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 bank serves individuals, small and midsize businesses, corporations, and institutional clients throughout Brazil.

The company provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, credit and debit cards, mortgages, payment solutions, and digital banking. Its broader platform also includes corporate and investment banking, private banking, asset management, insurance, and other financial services.

Santander Brasil's operations were built in part through the expansion of Banco Santander in Brazil and the acquisition of Banco do Estado de São Paulo (Banespa) in 2000.

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