Banco Santander Brasil (NYSE:BSBR) Insider Sells $65,935.11 in Stock

Key Points

• Insider sale: Rudolf Gschliffner sold 11,507 Banco Santander Brasil shares for approximately $65,935, reducing his position by 25.74% to 33,192 shares.
• Stock and dividend: BSBR traded around $5.75, within its $4.94–$7.32 one-year range. The company pays an annualized dividend of $0.42 per share, representing a 7.3% yield.
• Analyst outlook: Recent rating changes have been mostly negative, with analysts assigning an average “Reduce” rating and a $6.00 price target; institutional investors own 14.53% of the stock.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) insider Rudolf Gschliffner sold 11,507 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $5.73, for a total transaction of $65,935.11. Following the completion of the transaction, the insider owned 33,192 shares in the company, valued at approximately $190,190.16. This trade represents a 25.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Banco Santander Brasil Stock Performance

BSBR stock traded down $0.07 during mid-day trading on Thursday, hitting $5.75. 3,752,119 shares of the company were exchanged, compared to its average volume of 1,690,931. Banco Santander Brasil SA has a 1-year low of $4.94 and a 1-year high of $7.32. The business has a 50 day simple moving average of $5.44 and a 200-day simple moving average of $5.77. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25.

Banco Santander Brasil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Thursday, July 30th were paid a $0.1045 dividend. The ex-dividend date was Thursday, July 30th. This represents a $0.42 annualized dividend and a yield of 7.3%.

Wall Street Analyst Weigh In

BSBR has been the topic of several recent research reports. JPMorgan Chase & Co. cut Banco Santander Brasil from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Banco Santander Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings raised shares of Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 31st. UBS Group downgraded shares of Banco Santander Brasil from a "buy" rating to a "neutral" rating in a report on Monday. Finally, 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. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $6.00.

Institutional Trading of Banco Santander Brasil

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC bought a new position in Banco Santander Brasil in the 4th quarter valued at about $9,772,000. Alpine Global Management LLC bought a new stake in shares of Banco Santander Brasil during the 4th quarter valued at approximately $4,735,000. Arrowstreet Capital Limited Partnership boosted its position in Banco Santander Brasil by 17.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank's stock valued at $16,531,000 after buying an additional 430,531 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Banco Santander Brasil by 2,671.0% during the 3rd quarter. Millennium Management LLC now owns 326,451 shares of the bank's stock valued at $1,825,000 after acquiring an additional 314,670 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Banco Santander Brasil during the fourth quarter valued at about $1,322,000. 14.53% of the stock is owned by institutional investors and hedge funds.

About Banco Santander Brasil

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.

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