Banco Santander (Brasil) (NYSE:BSBR) Upgraded by Bank of America to Buy

Bank of America upgraded shares of Banco Santander (Brasil) (NYSE:BSBR - Free Report) from a neutral rating to a buy rating in a research report released on Monday morning, Marketbeat.com reports.

Banco Santander (Brasil) Trading Up 0.8 %

Shares of NYSE:BSBR traded up $0.04 during trading on Monday, reaching $5.88. 542,281 shares of the company's stock traded hands, compared to its average volume of 574,589. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.26 and a quick ratio of 0.26. Banco Santander has a 12 month low of $4.93 and a 12 month high of $6.66. The company has a 50 day moving average of $5.57 and a 200-day moving average of $5.88.

Banco Santander (Brasil) Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 23rd will be given a dividend of $0.0792 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date is Monday, April 22nd. This is an increase from Banco Santander (Brasil)'s previous quarterly dividend of $0.06.

Institutional Investors Weigh In On Banco Santander (Brasil)

A number of institutional investors have recently modified their holdings of BSBR. Wellington Management Group LLP acquired a new position in Banco Santander (Brasil) during the 4th quarter valued at about $5,064,000. SPX Gestao de Recursos Ltda boosted its stake in Banco Santander (Brasil) by 570.9% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 715,921 shares of the bank's stock valued at $4,689,000 after purchasing an additional 609,216 shares during the period. Vinland Capital Management Gestora de Recursos LTDA. acquired a new position in Banco Santander (Brasil) during the 4th quarter valued at about $655,000. Jump Financial LLC boosted its stake in Banco Santander (Brasil) by 62.6% during the 4th quarter. Jump Financial LLC now owns 74,200 shares of the bank's stock valued at $486,000 after purchasing an additional 28,564 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Banco Santander (Brasil) by 15.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,721 shares of the bank's stock valued at $214,000 after purchasing an additional 4,359 shares during the period. Institutional investors own 14.53% of the company's stock.

About Banco Santander (Brasil)

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.