Short Interest in Banco Santander Brasil SA (NYSE:BSBR) Rises By 65.9%

Key Points

• Short interest in Banco Santander Brasil (NYSE:BSBR) jumped 65.9% in March to 3,993,367 shares, equal to about 0.1% of shares outstanding and a short-interest ratio of 3.5 days based on average daily volume.
• Insider Rafael Abujamra Kappaz sold 31,285 shares on March 18 at an average price of $5.76 (≈$180,202), reducing his stake by 47.16%; corporate insiders now own 0.06% of the stock.
• Institutional investors hold 14.53% of BSBR, analysts are mixed with a MarketBeat consensus of Hold, and the stock recently traded at $6.46 (up 0.7%) with 50-/200-day moving averages near $6.27 and $6.10.

Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 3,993,367 shares, an increase of 65.9% from the March 15th total of 2,406,526 shares. Based on an average daily volume of 1,154,791 shares, the short-interest ratio is presently 3.5 days. Currently, 0.1% of the shares of the company are sold short.

Insider Activity

In related news, insider Rafael Abujamra Kappaz sold 31,285 shares of the business's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $5.76, for a total value of $180,201.60. Following the completion of the transaction, the insider directly owned 35,049 shares in the company, valued at $201,882.24. The trade was a 47.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Banco Santander Brasil

A number of hedge funds have recently modified their holdings of BSBR. Royal Bank of Canada raised its position in shares of Banco Santander Brasil by 288.1% in the fourth quarter. Royal Bank of Canada now owns 5,038 shares of the bank's stock valued at $31,000 after buying an additional 3,740 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Banco Santander Brasil in the fourth quarter valued at about $36,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Banco Santander Brasil in the first quarter valued at about $46,000. Tuttle Capital Management LLC acquired a new stake in shares of Banco Santander Brasil in the fourth quarter valued at about $66,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Banco Santander Brasil in the fourth quarter valued at about $76,000. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Brasil Stock Up 0.7%

NYSE:BSBR traded up $0.05 during trading hours on Monday, reaching $6.46. 878,867 shares of the company were exchanged, compared to its average volume of 953,650. The company has a debt-to-equity ratio of 3.15, a quick ratio of 1.62 and a current ratio of 1.62. The stock's 50-day moving average is $6.27 and its 200-day moving average is $6.10. Banco Santander Brasil has a twelve month low of $4.50 and a twelve month high of $7.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings cut shares of Banco Santander Brasil from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 6th. Wall Street Zen upgraded shares of Banco Santander Brasil from a "buy" rating to a "strong-buy" rating in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

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.

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