Banco Santander Brasil SA (NYSE:BSBR) Shareholders to Get $0.08 Quarterly Dividend

Key Points

• Banco Santander Brasil declared a quarterly dividend of $0.0804 per share, payable November 19 to shareholders of record October 22. The annualized dividend is $0.32, yielding approximately 5.6%, but represents a 23.1% decline from the prior quarterly payment.
• The dividend appears supported by earnings, with a payout ratio of 32.5%; analysts expect next year’s earnings to cover the projected $0.27 annual dividend at a 31.0% payout ratio.
• Analyst sentiment remains cautious: MarketBeat reports an average rating of “Reduce” and a $6.10 price target, while BSBR recently traded at $5.75.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) declared a quarterly dividend on Monday, October 12th. Stockholders of record on Thursday, October 22nd will be given a dividend of $0.0804 per share by the bank on Thursday, November 19th. This represents a $0.32 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, October 22nd. This is a 23.1% decrease from Banco Santander Brasil's previous quarterly dividend of $0.1045.

Banco Santander Brasil has decreased its dividend by an average of 0.2% per year over the last three years. Banco Santander Brasil has a dividend payout ratio of 32.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Santander Brasil to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 31.0%.

Banco Santander Brasil Stock Performance

Shares of Banco Santander Brasil stock traded down $0.02 on Tuesday, hitting $5.75. The company's stock had a trading volume of 3,949,449 shares, compared to its average volume of 2,109,296. Banco Santander Brasil has a 52-week low of $4.94 and a 52-week high of $7.32. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a fifty day moving average price of $5.78 and a 200-day moving average price of $5.65.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HSBC reaffirmed a "hold" rating and issued a $6.20 price target (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. JPMorgan Chase & Co. lowered shares of Banco Santander Brasil from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $6.50 to $6.00 in a research report on Thursday, July 30th. Weiss Ratings raised shares of Banco Santander Brasil from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. UBS Group downgraded Banco Santander Brasil from a "buy" rating to a "neutral" rating in a research report on Monday, August 24th. Finally, Zacks Research lowered Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research note on Friday, July 3rd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Banco Santander Brasil has an average rating of "Reduce" and an average price target of $6.10.

Banco Santander Brasil Company Profile

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.

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.