Banco Santander Brasil SA (BSBR) Stock Rating Lowered by Zacks Investment Research
Banco Santander Brasil SA (NYSE:BSBR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Banco Santander, S.A. is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company’s commercial model satisfies the needs of all types of customers: individuals with various income levels. “
Several other research analysts have also commented on the company. ValuEngine upgraded Banco Santander Brasil SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. HSBC Holdings plc upgraded Banco Santander Brasil SA from a “reduce” rating to a “hold” rating in a research report on Thursday, May 18th. BidaskClub upgraded Banco Santander Brasil SA from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Citigroup Inc. upgraded Banco Santander Brasil SA from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 4th. Finally, J P Morgan Chase & Co upgraded Banco Santander Brasil SA from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $6.00 to $7.50 in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Banco Santander Brasil SA currently has a consensus rating of “Hold” and a consensus target price of $12.47.
Shares of Banco Santander Brasil SA (NYSE:BSBR) opened at 9.18 on Monday. Banco Santander Brasil SA has a 12 month low of $6.40 and a 12 month high of $11.75. The firm’s 50-day moving average price is $8.61 and its 200-day moving average price is $8.57. The company has a market capitalization of $34.44 billion, a price-to-earnings ratio of 13.87 and a beta of 1.55.
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A number of large investors have recently added to or reduced their stakes in BSBR. Numeric Investors LLC boosted its holdings in Banco Santander Brasil SA by 497.3% in the second quarter. Numeric Investors LLC now owns 7,813,307 shares of the bank’s stock valued at $58,834,000 after purchasing an additional 6,505,126 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Banco Santander Brasil SA by 236.4% in the second quarter. Goldman Sachs Group Inc. now owns 5,862,453 shares of the bank’s stock valued at $44,144,000 after purchasing an additional 4,119,776 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Banco Santander Brasil SA by 73.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 9,351,744 shares of the bank’s stock valued at $70,419,000 after purchasing an additional 3,960,380 shares during the period. Macquarie Group Ltd. boosted its holdings in Banco Santander Brasil SA by 2,533.2% in the second quarter. Macquarie Group Ltd. now owns 3,307,300 shares of the bank’s stock valued at $24,905,000 after purchasing an additional 3,181,700 shares during the period. Finally, Discovery Capital Management LLC CT purchased a new position in Banco Santander Brasil SA in the second quarter valued at $18,692,000. Hedge funds and other institutional investors own 1.66% of the company’s stock.
About Banco Santander Brasil SA
Banco Santander (Brasil) SA (the Bank) is indirectly controlled by Banco Santander, SA, and is an institution of the Financial and Prudential Group. The Bank operates through two segments, Commercial Banking and Global Wholesale Banking. The Company conducts its operations by means of portfolios such as commercial, investment, lending and financing, mortgage lending, leasing, credit card operations and foreign exchange.
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