Denis Junior Ferro Sells 3,203 Shares of Banco Santander Brasil (NYSE:BSBR) Stock

Key Points

• Insider sale: Denis Junior Ferro sold 3,203 Banco Santander Brasil shares for approximately $19,058, reducing his position by 10.67% to 26,803 shares.
• Stock and dividend: BSBR traded near $5.96, within a 12-month range of $4.94 to $7.32. The company pays an annualized dividend of $0.42, yielding about 7.0%.
• Analyst sentiment: Recent downgrades from several firms leave the stock with an average “Reduce” rating and an average price target of $6.00; institutional investors own 14.53% of shares.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) insider Denis Junior Ferro sold 3,203 shares of Banco Santander Brasil stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $5.95, for a total value of $19,057.85. Following the completion of the sale, the insider directly owned 26,803 shares in the company, valued at approximately $159,477.85. This represents a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Banco Santander Brasil Stock Performance

NYSE BSBR traded up $0.01 during trading hours on Tuesday, hitting $5.96. 6,046,548 shares of the company traded hands, compared to its average volume of 1,847,245. The business's 50-day moving average is $5.54 and its 200-day moving average is $5.73. Banco Santander Brasil SA has a twelve month low of $4.94 and a twelve month high of $7.32. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56.

Banco Santander Brasil Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, July 30th. This represents a $0.42 annualized dividend and a dividend yield of 7.0%.

Hedge Funds Weigh In On Banco Santander Brasil

Several large investors have recently modified their holdings of BSBR. Royal Bank of Canada lifted 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 worth $31,000 after buying an additional 3,740 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Banco Santander Brasil by 251.5% in the 1st 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 period. Caitong International Asset Management Co. Ltd acquired a new stake in Banco Santander Brasil during the fourth quarter worth approximately $36,000. Cubist Systematic Strategies LLC acquired a new stake in Banco Santander Brasil during the first quarter worth approximately $46,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Banco Santander Brasil during the third quarter worth approximately $78,000. 14.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on BSBR shares. Zacks Research downgraded shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research report on Friday, July 3rd. Weiss Ratings upgraded shares of Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. Wall Street Zen cut Banco Santander Brasil from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. JPMorgan Chase & Co. downgraded Banco Santander Brasil from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Finally, UBS Group lowered Banco Santander Brasil from a "buy" rating to a "neutral" rating in a research note on Monday, August 24th. Three equities research 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 presently has an average rating of "Reduce" and an average price target of $6.00.

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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