Banco Santander Brasil SA (NYSE:BSBR) Stock Has Consensus Price Target of $6.10 According to Brokerages

Banco Santander Brasil SA (NYSE:BSBR) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $6.10.

Several analysts recently commented on the company. Wall Street Zen cut Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group downgraded 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 report on Friday, July 3rd. HSBC restated a “hold” rating and issued a $6.20 price objective (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $6.50 to $6.00 in a research note on Thursday, July 30th.

Banco Santander Brasil Trading Down 1.0%

Shares of Banco Santander Brasil stock opened at $5.53 on Tuesday. The business has a 50 day simple moving average of $5.77 and a two-hundred day simple moving average of $5.65. Banco Santander Brasil has a 12 month low of $4.95 and a 12 month high of $7.32. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.56 and a quick ratio of 1.56.

Banco Santander Brasil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, October 22nd will be given a $0.0804 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.8%. This is a negative change from Banco Santander Brasil’s previous quarterly dividend of $0.1045. The ex-dividend date is Thursday, October 22nd.

Insider Transactions at Banco Santander Brasil

In other news, insider Robson De Souza Rezende sold 39,874 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total value of $227,281.80. Following the transaction, the insider directly owned 31,003 shares of the company’s stock, valued at approximately $176,717.10. This trade represents a 56.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mariana Cahen Margulies sold 42,545 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 transaction of $242,506.50. Following the transaction, the insider owned 40,275 shares in the company, valued at $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 quarter, insiders sold 233,438 shares of company stock valued at $1,338,299. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Banco Santander Brasil

A number of hedge funds have recently bought and sold shares of BSBR. Engineers Gate Manager LP increased its holdings in shares of Banco Santander Brasil by 765.6% in the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock valued at $731,000 after purchasing an additional 123,100 shares during the last quarter. Alpine Global Management LLC purchased a new position in Banco Santander Brasil during the fourth quarter worth approximately $4,735,000. Public Employees Retirement System of Ohio purchased a new position in Banco Santander Brasil during the second quarter worth approximately $476,000. GAMMA Investing LLC lifted its position in Banco Santander Brasil by 20.9% during the third quarter. GAMMA Investing LLC now owns 22,429 shares of the bank’s stock worth $125,000 after buying an additional 3,877 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Banco Santander Brasil by 80.9% during the third quarter. Farther Finance Advisors LLC now owns 4,501 shares of the bank’s stock worth $25,000 after buying an additional 2,013 shares in the last quarter. Institutional investors and hedge funds own 14.53% of the company’s stock.

About Banco Santander Brasil

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. It provides banking and financial services to individuals, small and midsize businesses, corporate clients and institutional customers throughout Brazil.

The company’s offerings include checking and savings accounts, consumer and commercial loans, credit and debit cards, mortgages, payroll lending, insurance, investment products, foreign-exchange services, cash management and payment solutions.