Banco Santander Brasil (NYSE:BSBR) Sees Strong Trading Volume – Here’s What Happened

Shares of Banco Santander Brasil SA (NYSE:BSBR) saw strong trading volume on Tuesday . Approximately 1,621,318 shares traded hands during mid-day trading, a decline of 4% from the previous session’s volume of 1,692,804 shares.The stock last traded at $5.7850 and had previously closed at $5.75.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BSBR. JPMorgan Chase & Co. lowered 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 report on Thursday, July 30th. UBS Group downgraded shares of Banco Santander Brasil from a “buy” rating to a “neutral” rating in a report on Monday, August 24th. Wall Street Zen downgraded shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Finally, Weiss Ratings raised shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $6.00.

Banco Santander Brasil Stock Down 0.6%

The company has a debt-to-equity ratio of 3.25, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50-day simple moving average is $5.47 and its 200-day simple moving average is $5.75.

Banco Santander Brasil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.1045 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Thursday, July 30th.

Insider Activity

In related news, CEO Mario Roberto Opice Leao purchased 276,851 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $5.38 per share, with a total value of $1,489,458.38. Following the acquisition, the chief executive officer owned 536,751 shares of the company’s stock, valued at $2,887,720.38. This trade represents a 106.52% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robson De Souza Rezende sold 39,874 shares of the firm’s stock in a transaction on 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 directly owned 31,003 shares of the company’s stock, valued at $176,717.10. This represents a 56.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 500,251 shares of company stock worth $2,651,888 and sold 161,268 shares worth $921,265. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Banco Santander Brasil

Several large investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Banco Santander Brasil by 288.1% in the fourth quarter. Royal Bank of Canada now owns 5,038 shares of the bank’s stock valued at $31,000 after purchasing an additional 3,740 shares during the period. EverSource Wealth Advisors LLC grew 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 valued at $34,000 after buying an additional 4,153 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Banco Santander Brasil during the 4th quarter valued at $36,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Banco Santander Brasil during the first quarter worth $46,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Banco Santander Brasil during the third quarter worth $78,000. Hedge funds and other institutional investors own 14.53% of the company’s stock.

Banco Santander Brasil Company Profile

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.