Insider Selling: Banco Santander Brasil (NYSE:BSBR) VP Sells $289,500.00 in Stock

Key Points

• Insider sale: Banco Santander Brasil VP Edmilson Saes sold 50,000 shares for $289,500, reducing his stake by 14.28% to 300,203 shares.
• Stock and dividend: BSBR recently traded at $5.71, near its 50-day average, while its quarterly dividend equates to approximately $0.42 annually and a 7.3% yield.
• Analyst sentiment: Analysts have a consensus “Reduce” rating, with four Holds and two Sells and an average price target of $6.10; institutional investors own 14.53% of the company.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) VP Edmilson Saes sold 50,000 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $5.79, for a total value of $289,500.00. Following the sale, the vice president directly owned 300,203 shares in the company, valued at $1,738,175.37. This trade represents a 14.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Banco Santander Brasil Stock Down 0.8%

BSBR stock traded down $0.04 during trading on Monday, reaching $5.71. 4,932,286 shares of the company traded hands, compared to its average volume of 1,933,110. The business has a 50 day simple moving average of $5.72 and a 200 day simple moving average of $5.66. Banco Santander Brasil SA has a 12 month low of $4.94 and a 12 month high of $7.32. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.56 and a quick 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 given a dividend of $0.1045 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.42 dividend on an annualized basis and a yield of 7.3%.

Analyst Upgrades and Downgrades

BSBR has been the topic of several analyst reports. Weiss Ratings raised shares of Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. HSBC reiterated a "hold" rating and set a $6.20 price objective (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. Zacks Research cut Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a research report on Friday, July 3rd. Wall Street Zen downgraded Banco Santander Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, JPMorgan Chase & Co. lowered Banco Santander Brasil from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $6.50 to $6.00 in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Banco Santander Brasil presently has a consensus rating of "Reduce" and an average price target of $6.10.

Institutional Investors Weigh In On Banco Santander Brasil

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP increased its position in shares of Banco Santander Brasil by 765.6% in the 2nd quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank's stock valued at $731,000 after acquiring an additional 123,100 shares during the period. Alpine Global Management LLC purchased a new position in Banco Santander Brasil in the 4th quarter worth $4,735,000. Public Employees Retirement System of Ohio acquired a new stake in Banco Santander Brasil during the 2nd quarter worth about $476,000. QRG Capital Management Inc. acquired a new stake in Banco Santander Brasil during the 2nd quarter worth about $57,000. Finally, Royal Bank of Canada grew its stake 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 valued at $43,000 after purchasing an additional 2,098 shares during the last quarter. 14.53% of the stock is currently owned by institutional investors and hedge funds.

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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