Banco Santander Brasil (NYSE:BSBR) Receives Hold Rating from HSBC

Banco Santander Brasil (NYSE:BSBR)‘s stock had its “hold” rating reaffirmed by equities researchers at HSBC in a research report issued on Tuesday, Benzinga reports. They currently have a $6.20 price objective on the bank’s stock, down from their previous price objective of $7.20. HSBC’s target price indicates a potential upside of 4.11% from the stock’s previous close.

Several other brokerages have also recently weighed in on BSBR. UBS Group cut shares of Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $6.50 to $6.00 in a research report on Thursday, July 30th. Zacks Research lowered Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. 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, Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $6.10.

Banco Santander Brasil Trading Down 1.1%

Shares of Banco Santander Brasil stock opened at $5.96 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 3.34. The company has a 50-day simple moving average of $5.61 and a 200 day simple moving average of $5.69. Banco Santander Brasil has a 12-month low of $4.94 and a 12-month high of $7.32.

Insider Activity at Banco Santander Brasil

In related news, insider Rudolf Gschliffner sold 11,507 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $5.73, for a total transaction of $65,935.11. Following the sale, the insider owned 33,192 shares of the company’s stock, valued at approximately $190,190.16. This trade represents a 25.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Celso Mateus De Queiroz sold 29,299 shares of Banco Santander Brasil stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $5.78, for a total value of $169,348.22. Following the transaction, the insider owned 23,838 shares in the company, valued at approximately $137,783.64. This represents a 55.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 162,638 shares of company stock valued at $930,663. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Banco Santander Brasil

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Banco Santander Brasil by 251.5% during the 1st 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Banco Santander Brasil in the fourth quarter valued at approximately $36,000. Royal Bank of Canada boosted its holdings in shares of Banco Santander Brasil by 41.6% in the first 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 during the period. May Hill Capital LLC bought a new stake in shares of Banco Santander Brasil during the fourth quarter worth $83,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Banco Santander Brasil by 44.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,020 shares of the bank’s stock worth $107,000 after acquiring an additional 5,527 shares in the last quarter. 14.53% of the stock is currently owned by institutional investors.

About Banco Santander Brasil

Banco Santander Brasil SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the company provides banking and financial services to individual customers, small and midsize businesses, corporations and institutional clients throughout Brazil.

Its offerings include checking and savings accounts, consumer and commercial lending, credit and debit cards, mortgages, insurance, investments, asset management, payment solutions and foreign-exchange services.