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

Banco Santander Brasil SA (NYSE:BSBR) shares saw unusually-high trading volume on Wednesday . Approximately 2,335,933 shares changed hands during mid-day trading, an increase of 97% from the previous session’s volume of 1,183,368 shares.The stock last traded at $5.3850 and had previously closed at $5.39.

Analyst Ratings Changes

A number of research firms recently weighed in on BSBR. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday. 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. JPMorgan Chase & Co. cut their target price on shares of Banco Santander Brasil from $7.00 to $6.50 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $6.50.

Banco Santander Brasil Price Performance

The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29. The company’s 50-day moving average is $5.37 and its two-hundred day moving average is $5.97.

Insider Activity

In related news, CEO Mario Roberto Opice Leao purchased 276,851 shares of the stock in a transaction dated Tuesday, June 16th. The stock was bought at an average cost of $5.38 per share, for a total transaction of $1,489,458.38. Following the completion of the acquisition, the chief executive officer owned 536,751 shares of the company’s stock, valued at approximately $2,887,720.38. This represents a 106.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $5.43, for a total value of $40,725.00. Following the completion of the transaction, the insider owned 24,701 shares of the company’s stock, valued at $134,126.43. The trade was a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have acquired 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 institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in 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 buying an additional 3,740 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 acquiring an additional 4,153 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Banco Santander Brasil during the 4th quarter valued at $36,000. Cubist Systematic Strategies LLC acquired a new position in shares of Banco Santander Brasil during the 1st quarter valued at $46,000. Finally, Tuttle Capital Management LLC bought a new position in Banco Santander Brasil during the fourth quarter worth $66,000. Institutional investors and hedge funds own 14.53% of the company’s stock.

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.