Banco Santander (Brasil) (NYSE:BSBR) Upgraded by Bank of America to Buy

Bank of America upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat reports.

Banco Santander (Brasil) Stock Down 3.0 %

Shares of NYSE BSBR opened at $5.55 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a fifty day simple moving average of $5.57 and a two-hundred day simple moving average of $5.88. Banco Santander has a 1-year low of $4.93 and a 1-year high of $6.66.

Banco Santander (Brasil) Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.0792 per share. The ex-dividend date of this dividend is Monday, April 22nd. This is a boost from Banco Santander (Brasil)’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 5.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Advisor Partners II LLC grew its holdings in shares of Banco Santander (Brasil) by 30.5% during the third quarter. Advisor Partners II LLC now owns 19,367 shares of the bank’s stock worth $99,000 after purchasing an additional 4,526 shares in the last quarter. Signaturefd LLC grew its stake in Banco Santander (Brasil) by 8.5% in the 3rd quarter. Signaturefd LLC now owns 23,560 shares of the bank’s stock worth $121,000 after buying an additional 1,852 shares in the last quarter. Jump Financial LLC bought a new position in shares of Banco Santander (Brasil) in the 3rd quarter worth $234,000. Quantbot Technologies LP purchased a new stake in shares of Banco Santander (Brasil) during the 3rd quarter valued at $31,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Banco Santander (Brasil) during the 3rd quarter worth $52,000. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander (Brasil) Company Profile

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.