Banco Santander Brasil SA (NYSE:BSBR) Stock Short Interest Climbs 79.4%

by · The Markets Daily

Banco Santander Brasil SA (NYSE:BSBR – Get Free Report) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 7,921,853 shares, an increase of 79.4% from the August 31st total of 4,416,949 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 5,068,939 shares, the short-interest ratio is currently 1.6 days.

Insider Transactions at Banco Santander Brasil

In other news, insider Robson De Souza Rezende sold 39,874 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total value of $227,281.80. Following the completion of the sale, the insider owned 31,003 shares of the company’s stock, valued at approximately $176,717.10. The trade was a 56.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mariana Cahen Margulies sold 42,545 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total value of $242,506.50. Following the transaction, the insider owned 40,275 shares in the company, valued at approximately $229,567.50. The trade was a 51.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 233,438 shares of company stock valued at $1,338,299. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Banco Santander Brasil

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its position in Banco Santander Brasil by 41.6% during the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock valued at $43,000 after buying an additional 2,098 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Banco Santander Brasil by 251.5% in the 1st 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Banco Santander Brasil by 44.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,020 shares of the bank’s stock valued at $107,000 after purchasing an additional 5,527 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Banco Santander Brasil during the 4th quarter valued at about $36,000. Finally, Public Employees Retirement System of Ohio increased its stake in Banco Santander Brasil by 9.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 81,609 shares of the bank’s stock valued at $484,000 after purchasing an additional 6,982 shares in the last quarter. Institutional investors own 14.53% of the company’s stock.

Banco Santander Brasil Trading Down 2.0%

Banco Santander Brasil stock traded down $0.12 on Wednesday, hitting $5.57. 1,749,697 shares of the stock traded hands, compared to its average volume of 3,589,509. Banco Santander Brasil has a 1 year low of $4.94 and a 1 year high of $7.32. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. The business’s fifty day simple moving average is $5.73 and its 200 day simple moving average is $5.65.

Banco Santander Brasil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Thursday, July 30th were paid a dividend of $0.1045 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.42 annualized dividend and a yield of 7.5%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BSBR. UBS Group cut Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. Zacks Research lowered Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. JPMorgan Chase & Co. cut Banco Santander Brasil from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. Weiss Ratings raised Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Finally, HSBC restated a “hold” rating and set a $6.20 target price (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $6.10.

Check Out Our Latest Report on Banco Santander Brasil

Banco Santander Brasil Company Profile

(Get Free Report)

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the bank serves individuals, small and midsize businesses, corporations, and institutional clients throughout Brazil.

The company provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, credit and debit cards, mortgages, payment solutions, and digital banking. Its broader platform also includes corporate and investment banking, private banking, asset management, insurance, and other financial services.

Santander Brasil’s operations were built in part through the expansion of Banco Santander in Brazil and the acquisition of Banco do Estado de São Paulo (Banespa) in 2000.

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