Banco Santander Brasil (NYSE:BSBR) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• BSBR shares briefly moved above their 200-day moving average of $5.65, reaching $5.67 before closing at $5.615, up 1.7%.
• Analyst sentiment remains cautious: the stock carries an average “Hold” rating and a $6.10 consensus price target, with several firms recently lowering ratings or targets.
• Banco Santander Brasil reduced its quarterly dividend to $0.0804 per share, equivalent to a 5.7% yield, while insiders have sold approximately 233,438 shares worth $1.34 million over the past 90 days.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $5.65 and traded as high as $5.67. Banco Santander Brasil shares last traded at $5.6150, with a volume of 2,132,851 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on BSBR shares. HSBC reissued a "hold" rating and set a $6.20 price target (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. Zacks Research cut shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $6.50 to $6.00 in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Banco Santander Brasil from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Finally, UBS Group lowered shares of Banco Santander Brasil from a "buy" rating to a "neutral" rating in a research note on Monday, August 24th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.10.

Banco Santander Brasil Trading Up 1.7%

The company has a debt-to-equity ratio of 3.34, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a fifty day simple moving average of $5.76 and a 200 day simple moving average of $5.65.

Banco Santander Brasil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, October 22nd will be paid a dividend of $0.0804 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, October 22nd. This is a negative change from Banco Santander Brasil's previous quarterly dividend of $0.1045.

Insider Activity

In related news, VP Edmilson Saes sold 50,000 shares of the business's 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 completion of the sale, the vice president owned 300,203 shares of the company's stock, valued at approximately $1,738,175.37. The trade was a 14.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gustavo De Sousa Santos sold 29,200 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $166,440.00. Following the completion of the sale, the insider directly owned 53,023 shares of the company's stock, valued at approximately $302,231.10. The trade was a 35.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 233,438 shares of company stock worth $1,338,299. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Banco Santander Brasil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Banco Santander Brasil by 20.9% during the 3rd quarter. GAMMA Investing LLC now owns 22,429 shares of the bank's stock worth $125,000 after purchasing an additional 3,877 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Banco Santander Brasil by 80.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,501 shares of the bank's stock valued at $25,000 after buying an additional 2,013 shares in the last quarter. QRG Capital Management Inc. purchased a new position in Banco Santander Brasil in the 2nd quarter valued at about $57,000. Engineers Gate Manager LP lifted its stake in 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 buying an additional 123,100 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Banco Santander Brasil in the 2nd quarter worth about $476,000. 14.53% of the stock is owned by hedge funds and other institutional investors.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. It provides banking and financial services to individuals, small and midsize businesses, corporate clients and institutional customers throughout Brazil.

The company's offerings include checking and savings accounts, consumer and commercial loans, credit and debit cards, mortgages, payroll lending, insurance, investment products, foreign-exchange services, cash management and payment solutions.

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