Banco Santander Brasil (NYSE:BSBR) Hits New 52-Week High – What’s Next?

Banco Santander Brasil SA (NYSE:BSBR) hit a new 52-week high on Tuesday . The stock traded as high as $5.95 and last traded at $5.89, with a volume of 330449 shares. The stock had previously closed at $5.79.

Analyst Upgrades and Downgrades

BSBR has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Brasil in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Banco Santander Brasil from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.35.

Banco Santander Brasil Price Performance

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 3.28. The firm has a 50 day moving average price of $5.39 and a 200-day moving average price of $5.21.

Banco Santander Brasil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Thursday, October 23rd will be paid a $0.0983 dividend. The ex-dividend date is Thursday, October 23rd. This is a positive change from Banco Santander Brasil’s previous quarterly dividend of $0.07. This represents a $0.39 annualized dividend and a dividend yield of 6.7%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BSBR. Wellington Management Group LLP raised its stake in shares of Banco Santander Brasil by 74.0% in the first quarter. Wellington Management Group LLP now owns 1,606,117 shares of the bank’s stock worth $7,565,000 after purchasing an additional 683,045 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Banco Santander Brasil by 21.2% in the second quarter. American Century Companies Inc. now owns 744,630 shares of the bank’s stock worth $4,058,000 after purchasing an additional 130,366 shares during the last quarter. Cordatus Wealth Management LLC purchased a new position in Banco Santander Brasil during the first quarter valued at approximately $611,000. Arrowstreet Capital Limited Partnership raised its position in Banco Santander Brasil by 5.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,526,757 shares of the bank’s stock valued at $13,771,000 after acquiring an additional 121,804 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Banco Santander Brasil by 50.5% during the second quarter. Bank of America Corp DE now owns 291,643 shares of the bank’s stock valued at $1,589,000 after acquiring an additional 97,875 shares in the last quarter. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Santander Brasil

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.