Banco Santander (Brasil) (NYSE:BSBR) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a neutral rating to an overweight rating in a research note published on Monday morning, MarketBeat reports. The firm currently has $6.00 target price on the bank’s stock, down from their prior target price of $7.00.

Separately, StockNews.com upgraded shares of Banco Santander (Brasil) from a “hold” rating to a “buy” rating in a report on Monday, November 18th.

Banco Santander (Brasil) Trading Down 5.0 %

NYSE:BSBR opened at $4.38 on Monday. The business has a 50 day moving average of $4.93 and a 200 day moving average of $5.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. Banco Santander has a 1-year low of $4.32 and a 1-year high of $6.66.

Banco Santander (Brasil) Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Monday, October 21st were issued a $0.0714 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.29 annualized dividend and a dividend yield of 6.52%.

Hedge Funds Weigh In On Banco Santander (Brasil)

A number of large investors have recently bought and sold shares of BSBR. Dimensional Fund Advisors LP grew its holdings in shares of Banco Santander (Brasil) by 11.5% in the second quarter. Dimensional Fund Advisors LP now owns 30,067 shares of the bank’s stock worth $149,000 after purchasing an additional 3,098 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Banco Santander (Brasil) by 41.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the bank’s stock valued at $71,000 after buying an additional 4,387 shares during the period. BNP Paribas Financial Markets grew its holdings in Banco Santander (Brasil) by 220.0% in the 1st quarter. BNP Paribas Financial Markets now owns 7,095 shares of the bank’s stock worth $41,000 after acquiring an additional 4,878 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Banco Santander (Brasil) by 183.6% during the third quarter. GAMMA Investing LLC now owns 9,751 shares of the bank’s stock valued at $51,000 after acquiring an additional 6,313 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Banco Santander (Brasil) by 68.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,741 shares of the bank’s stock valued at $99,000 after acquiring an additional 7,608 shares during the last quarter. 14.53% of the stock is owned by hedge funds and other institutional investors.

Banco Santander (Brasil) Company Profile

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.