Banco Santander Brasil (NYSE:BSBR) Trading Up 3.4% – Here’s Why

by · The Markets Daily

Shares of Banco Santander Brasil SA (NYSE:BSBRGet Free Report) were up 3.4% on Tuesday . The stock traded as high as $5.95 and last traded at $6.0510. Approximately 24,010 shares traded hands during trading, a decline of 96% from the average daily volume of 618,750 shares. The stock had previously closed at $5.85.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Santander Brasil in a research report on Monday, December 15th. The Goldman Sachs Group lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen raised Banco Santander Brasil from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.70.

Check Out Our Latest Analysis on BSBR

Banco Santander Brasil Stock Performance

The stock has a fifty day moving average of $5.93 and a two-hundred day moving average of $5.46. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.13.

Banco Santander Brasil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Thursday, October 23rd were given a dividend of $0.0983 per share. This is a boost from Banco Santander Brasil’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $0.39 dividend on an annualized basis and a yield of 6.4%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BSBR. Arrowstreet Capital Limited Partnership lifted its holdings in Banco Santander Brasil by 17.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank’s stock valued at $16,531,000 after acquiring an additional 430,531 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Banco Santander Brasil by 74.0% in the first quarter. Wellington Management Group LLP now owns 1,606,117 shares of the bank’s stock worth $7,565,000 after buying an additional 683,045 shares during the last quarter. American Century Companies Inc. grew its position in Banco Santander Brasil by 21.2% during the second quarter. American Century Companies Inc. now owns 744,630 shares of the bank’s stock valued at $4,058,000 after buying an additional 130,366 shares during the period. Alliancebernstein L.P. grew its position in Banco Santander Brasil by 99.6% during the third quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock valued at $1,829,000 after buying an additional 163,314 shares during the period. Finally, Millennium Management LLC increased its holdings in Banco Santander Brasil by 2,671.0% during the third quarter. Millennium Management LLC now owns 326,451 shares of the bank’s stock valued at $1,825,000 after buying an additional 314,670 shares during the last quarter. 14.53% of the stock is owned by hedge funds and other institutional investors.

About Banco Santander Brasil

(Get Free Report)

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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