Wellington Management Group LLP Boosts Stake in Banco Santander Brasil SA $BSBR

Key Points

• Wellington Management Group LLP increased its stake in Banco Santander Brasil SA by 74%, owning over 1.6 million shares, valued at approximately $7.57 million.
• Banco Santander Brasil recently raised its quarterly dividend to $0.0655, reflecting a 5% yield and a payout ratio of 33.33%.
• Analysts have mixed ratings on Banco Santander Brasil, with a consensus rating of "Moderate Buy" and an average target price of $5.35.

Wellington Management Group LLP increased its holdings in Banco Santander Brasil SA (NYSE:BSBR - Free Report) by 74.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,606,117 shares of the bank's stock after buying an additional 683,045 shares during the period. Wellington Management Group LLP's holdings in Banco Santander Brasil were worth $7,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in BSBR. Signaturefd LLC increased its position in shares of Banco Santander Brasil by 25.2% during the first quarter. Signaturefd LLC now owns 9,872 shares of the bank's stock worth $46,000 after purchasing an additional 1,986 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in shares of Banco Santander Brasil during the first quarter valued at $62,000. May Hill Capital LLC purchased a new stake in shares of Banco Santander Brasil during the first quarter valued at $63,000. Checchi Capital Advisers LLC purchased a new stake in shares of Banco Santander Brasil during the first quarter valued at $70,000. Finally, LPL Financial LLC purchased a new stake in shares of Banco Santander Brasil during the fourth quarter valued at $70,000. 14.53% of the stock is owned by institutional investors and hedge funds.

Banco Santander Brasil Price Performance

BSBR stock traded down $0.09 during mid-day trading on Tuesday, reaching $5.22. The company's stock had a trading volume of 299,490 shares, compared to its average volume of 643,450. The stock has a market cap of $19.41 billion, a PE ratio of 6.44, a P/E/G ratio of 0.68 and a beta of 0.80. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 3.28. Banco Santander Brasil SA has a fifty-two week low of $3.75 and a fifty-two week high of $5.73. The company's 50 day moving average is $5.04 and its two-hundred day moving average is $4.96.

Banco Santander Brasil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid a $0.0655 dividend. This is a positive change from Banco Santander Brasil's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.26 annualized dividend and a dividend yield of 5.0%. Banco Santander Brasil's dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BSBR. UBS Group raised shares of Banco Santander Brasil from a "neutral" rating to a "buy" rating in a report on Wednesday, June 11th. Wall Street Zen lowered shares of Banco Santander Brasil from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $5.35.

Banco Santander Brasil Profile

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.