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

Shares of Banco Santander Brasil SA (NYSE:BSBR) saw strong trading volume on Thursday . Approximately 3,579,981 shares were traded during trading, an increase of 136% from the previous session’s volume of 1,519,379 shares.The stock last traded at $5.7750 and had previously closed at $5.75.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen downgraded shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Zacks Research lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Finally, JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $6.50 to $6.00 in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $6.00.

Banco Santander Brasil Stock Up 0.4%

The stock has a fifty day moving average of $5.37 and a 200-day moving average of $5.86. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25.

Banco Santander Brasil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Thursday, July 30th will be given a dividend of $0.1045 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.42 dividend on an annualized basis and a yield of 7.2%.

Insider Activity at Banco Santander Brasil

In other news, insider Celso Mateus De Queiroz sold 29,299 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $5.78, for a total transaction of $169,348.22. Following the completion of the transaction, the insider directly owned 23,838 shares of the company’s stock, valued at $137,783.64. This trade represents a 55.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mario Roberto Opice Leao acquired 276,851 shares of the stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average price of $5.38 per share, for a total transaction of $1,489,458.38. Following the completion of the acquisition, the chief executive officer directly owned 536,751 shares of the company’s stock, valued at $2,887,720.38. The trade was a 106.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 500,251 shares of company stock worth $2,651,888 and sold 150,251 shares worth $855,961. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Banco Santander Brasil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aquamarine Financial Cayman Ltd boosted its stake in shares of Banco Santander Brasil by 8.6% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank’s stock worth $59,697,000 after buying an additional 775,000 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Banco Santander Brasil by 17.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank’s stock valued at $16,531,000 after acquiring an additional 430,531 shares during the last quarter. Empowered Funds LLC bought a new stake in Banco Santander Brasil during the fourth quarter worth about $9,772,000. Alpine Global Management LLC bought a new stake in Banco Santander Brasil during the fourth quarter worth about $4,735,000. Finally, Alliancebernstein L.P. boosted its position in Banco Santander Brasil by 99.6% during the third quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock valued at $1,829,000 after purchasing an additional 163,314 shares during the last quarter. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Brasil Company Profile

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.