Gustavo De Sousa Santos Sells 29,200 Shares of Banco Santander Brasil (NYSE:BSBR) Stock

Key Points

• Insider sale: Gustavo De Sousa Santos sold 29,200 Banco Santander Brasil shares for approximately $166,440, reducing his ownership by 35.51% to 53,023 shares.
• Stock and dividend: BSBR recently traded at $5.79, within its $4.74–$7.32 12-month range. The company declared a quarterly dividend of $0.1045, equivalent to a 7.2% annualized yield.
• Analyst outlook: Recent ratings were largely negative, including downgrades from Zacks Research, JPMorgan, and Wall Street Zen. The consensus rating is “Reduce,” with an average price target of $6.00.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) insider Gustavo De Sousa Santos sold 29,200 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $166,440.00. Following the transaction, the insider owned 53,023 shares in the company, valued at approximately $302,231.10. This trade represents a 35.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Banco Santander Brasil Stock Up 0.1%

NYSE:BSBR traded up $0.01 during mid-day trading on Thursday, reaching $5.79. The stock had a trading volume of 2,121,644 shares, compared to its average volume of 1,362,379. Banco Santander Brasil SA has a twelve month low of $4.74 and a twelve month high of $7.32. The business has a 50 day simple moving average of $5.33 and a 200 day simple moving average of $5.88. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.29 and a quick ratio of 1.29.

Banco Santander Brasil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Thursday, July 30th will be issued a $0.1045 dividend. This represents a $0.42 annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend is Thursday, July 30th.

Analysts Set New Price Targets

A number of analysts recently issued reports on BSBR shares. Zacks Research lowered shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research report on Friday, July 3rd. Weiss Ratings raised Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. cut Banco Santander Brasil from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded Banco Santander Brasil from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $6.00.

Hedge Funds Weigh In On Banco Santander Brasil

A number of hedge funds have recently made changes to their positions in BSBR. Royal Bank of Canada grew its stake in shares of Banco Santander Brasil by 288.1% during the 4th quarter. Royal Bank of Canada now owns 5,038 shares of the bank's stock valued at $31,000 after buying an additional 3,740 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank's stock valued at $34,000 after acquiring an additional 4,153 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Banco Santander Brasil in the fourth quarter valued at $36,000. Cubist Systematic Strategies LLC purchased a new stake in Banco Santander Brasil during the first quarter valued at about $46,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Banco Santander Brasil during the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 14.53% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source