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

Banco Santander Brasil (NYSE:BSBR) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat Ratings reports. They currently have a $6.00 price objective on the bank’s stock, down from their previous price objective of $6.50. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.73% from the company’s previous close.

A number of other brokerages have also recently issued reports on BSBR. Wall Street Zen cut Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded shares of Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Finally, Zacks Research lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Two 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 an average rating of “Reduce” and a consensus price target of $6.00.

Banco Santander Brasil Trading Up 12.4%

BSBR opened at $5.67 on Thursday. The business’s 50-day simple moving average is $5.31 and its 200 day simple moving average is $5.89. Banco Santander Brasil has a 52-week low of $4.66 and a 52-week high of $7.32. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25.

Insider Buying and Selling

In related news, insider Eduardo Alvarez Garrido sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $5.43, for a total transaction of $40,725.00. Following the transaction, the insider directly owned 24,701 shares of the company’s stock, valued at approximately $134,126.43. The trade was a 23.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mario Roberto Opice Leao purchased 276,851 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average price of $5.38 per share, for a total transaction of $1,489,458.38. Following the purchase, the chief executive officer owned 536,751 shares in the company, valued at $2,887,720.38. This trade represents a 106.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 500,251 shares of company stock valued at $2,651,888. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Banco Santander Brasil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSBR. EverSource Wealth Advisors LLC increased its holdings in shares of Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock valued at $34,000 after purchasing an additional 4,153 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Banco Santander Brasil by 41.6% during the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock worth $43,000 after buying an additional 2,098 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of 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 worth $484,000 after buying an additional 6,982 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Banco Santander Brasil by 43.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock worth $1,316,000 after buying an additional 67,224 shares during the period. Finally, SPX Gestao de Recursos Ltda boosted its holdings in shares of Banco Santander Brasil by 58.9% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock worth $515,000 after buying an additional 32,189 shares during the period. 14.53% of the stock is owned by institutional investors.

About Banco Santander Brasil

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.