Banco Santander Brasil SA (NYSE:BSBR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $9.50 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.85% from the company’s previous close.

A number of other brokerages have also recently weighed in on BSBR. Credit Suisse Group AG upgraded Banco Santander Brasil SA from an “underperform” rating to a “neutral” rating in a research report on Monday, October 17th. UBS AG restated a “neutral” rating on shares of Banco Santander Brasil SA in a research report on Thursday, September 8th. Goldman Sachs Group Inc. cut Banco Santander Brasil SA from a “neutral” rating to a “sell” rating and set a $8.10 price target for the company. in a research report on Friday, September 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Banco Santander Brasil SA in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.50.

Analyst Recommendations for Banco Santander Brasil SA (NYSE:BSBR)

Shares of Banco Santander Brasil SA (NYSE:BSBR) traded up 0.12% during mid-day trading on Tuesday, reaching $8.57. 2,424,259 shares of the company’s stock were exchanged. Banco Santander Brasil SA has a 52 week low of $3.02 and a 52 week high of $8.77. The stock has a market cap of $32.21 billion and a price-to-earnings ratio of 14.83. The stock has a 50 day moving average price of $7.64 and a 200 day moving average price of $6.41.

A number of hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Banco Santander Brasil SA during the second quarter worth about $4,831,000. Checchi Capital Advisers LLC raised its stake in shares of Banco Santander Brasil SA by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 19,585 shares of the company’s stock worth $112,000 after buying an additional 384 shares during the last quarter. World Asset Management Inc raised its stake in shares of Banco Santander Brasil SA by 8.3% in the second quarter. World Asset Management Inc now owns 239,525 shares of the company’s stock worth $1,365,000 after buying an additional 18,381 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Banco Santander Brasil SA during the second quarter worth about $10,251,000. Finally, Vanguard Group Inc. raised its stake in shares of Banco Santander Brasil SA by 1,229.9% in the second quarter. Vanguard Group Inc. now owns 2,241,142 shares of the company’s stock worth $12,775,000 after buying an additional 2,072,620 shares during the last quarter.

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About Banco Santander Brasil SA

Banco Santander (Brasil) SA (Santander Brasil) is indirectly controlled by Banco Santander, SA, and is an institution of the financial and non-financial group. The Bank operates as a multiple bank. The Bank operates through two segments: Commercial Banking and Global Wholesale Banking. The Commercial Banking segment encompasses the entire commercial banking business (except for the Corporate Banking business managed globally using the Global Relationship Model).

5 Day Chart for NYSE:BSBR

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