Banco Santander Brasil (NYSE:BSBR) Sees Large Volume Increase - Time to Buy?

Key Points

• BSBR shares traded heavily, with about 1.62 million shares changing hands, while the stock edged up to $5.785 from a $5.75 close.
• Analyst sentiment has weakened: UBS, JPMorgan, Zacks Research and others recently downgraded the stock, giving it a consensus “Reduce” rating and an average price target of $6.00.
• The company pays an annualized dividend of approximately $0.42 per share, yielding 7.3%, but recent insider sales and limited institutional ownership may temper the investment case.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 1,621,318 shares changed hands during trading, a decline of 4% from the previous session's volume of 1,692,804 shares.The stock last traded at $5.7850 and had previously closed at $5.75.

Wall Street Analyst Weigh In

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

Banco Santander Brasil Price Performance

The company has a 50 day moving average price of $5.47 and a 200-day moving average price of $5.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.25.

Banco Santander Brasil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, July 30th were paid a $0.1045 dividend. 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.

Insiders Place Their Bets

In other Banco Santander Brasil news, insider Gustavo De Sousa Santos sold 29,200 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $166,440.00. Following the sale, the insider owned 53,023 shares of the company's stock, valued at approximately $302,231.10. This represents a 35.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mariana Cahen Margulies sold 42,545 shares of Banco Santander Brasil stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total value of $242,506.50. Following the completion of the transaction, the insider directly owned 40,275 shares of the company's stock, valued at approximately $229,567.50. This trade represents a 51.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have acquired 500,251 shares of company stock valued at $2,651,888 and have sold 161,268 shares valued at $921,265. Corporate insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Banco Santander Brasil

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position 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 period. EverSource Wealth Advisors LLC grew its holdings in Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank's stock worth $34,000 after purchasing an additional 4,153 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Banco Santander Brasil in the fourth quarter valued at $36,000. Cubist Systematic Strategies LLC bought a new stake in Banco Santander Brasil in the first quarter valued at $46,000. Finally, May Hill Capital LLC acquired a new position in shares of Banco Santander Brasil during the fourth quarter valued at about $83,000. 14.53% of the stock is owned by institutional investors and hedge funds.

Banco Santander Brasil Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source