Banco Santander Brasil (NYSE:BSBR) Insider Sells 20,000 Shares of Stock

Key Points

• Insider sale: Leonardo Mendes Cabral sold 20,000 Banco Santander Brasil shares for $113,600, reducing his ownership by 15.09% to 112,571 shares.
• Stock and dividend: BSBR recently traded at $5.71, within its $4.94–$7.32 52-week range. The company paid a quarterly dividend of $0.1045 per share, equivalent to a 7.3% annualized yield.
• Analyst sentiment: Several firms recently downgraded the stock, and analysts assign it an average “Reduce” rating with a $6.10 target price. Institutional investors and hedge funds own 14.53% of the company.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) insider Leonardo Mendes Cabral sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $5.68, for a total value of $113,600.00. Following the sale, the insider owned 112,571 shares in the company, valued at approximately $639,403.28. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Banco Santander Brasil Price Performance

BSBR stock traded down $0.04 during midday trading on Monday, hitting $5.71. The stock had a trading volume of 4,932,286 shares, compared to its average volume of 1,933,110. Banco Santander Brasil SA has a 52 week low of $4.94 and a 52 week high of $7.32. 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 stock has a 50-day simple moving average of $5.72 and a 200 day simple moving average of $5.66.

Banco Santander Brasil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, July 30th were issued a dividend of $0.1045 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Thursday, July 30th.

Institutional Trading of Banco Santander Brasil

Several hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 shares of Banco Santander Brasil in the 4th quarter worth approximately $36,000. Royal Bank of Canada grew its position in Banco Santander Brasil by 41.6% during the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank's stock worth $43,000 after acquiring an additional 2,098 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Banco Santander Brasil during the 2nd quarter worth approximately $57,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Banco Santander Brasil by 44.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,020 shares of the bank's stock valued at $107,000 after purchasing an additional 5,527 shares in the last quarter. Institutional investors and hedge funds own 14.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BSBR. Wall Street Zen cut shares of Banco Santander Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $6.50 to $6.00 in a research note on Thursday, July 30th. Weiss Ratings raised Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Zacks Research lowered Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research note on Friday, July 3rd. Finally, UBS Group cut Banco Santander Brasil from a "buy" rating to a "neutral" rating in a report on Monday, August 24th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Banco Santander Brasil currently has an average rating of "Reduce" and an average target price 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 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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