Banco Santander Brasil (NYSE:BSBR) Sees Strong Trading Volume – Here’s Why

Shares of Banco Santander Brasil SA (NYSE:BSBR) saw unusually-high trading volume on Wednesday . Approximately 2,806,125 shares were traded during mid-day trading, an increase of 73% from the previous session’s volume of 1,624,800 shares.The stock last traded at $5.5750 and had previously closed at $5.60.

Analysts Set New Price Targets

Several equities analysts have commented on BSBR shares. Weiss Ratings raised shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Wall Street Zen cut Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, JPMorgan Chase & Co. downgraded Banco Santander Brasil from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. 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 0.2%

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25. The stock’s fifty day moving average is $5.41 and its two-hundred day moving average is $5.80.

Banco Santander Brasil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, July 30th were issued a dividend of $0.1045 per share. This represents a $0.42 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Thursday, July 30th.

Insiders Place Their Bets

In other Banco Santander Brasil news, insider Mariana Cahen Margulies sold 42,545 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $242,506.50. Following the completion of the sale, the insider directly owned 40,275 shares of the company’s stock, valued at approximately $229,567.50. This represents a 51.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Celso Mateus De Queiroz sold 29,299 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $5.78, for a total transaction of $169,348.22. Following the completion of the transaction, the insider owned 23,838 shares of the company’s stock, valued at approximately $137,783.64. The trade was a 55.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 500,251 shares of company stock worth $2,651,888 and have sold 143,161 shares worth $817,578. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Banco Santander Brasil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSBR. Aquamarine Financial Cayman Ltd lifted its stake in Banco Santander Brasil by 8.6% in the 4th quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank’s stock worth $59,697,000 after acquiring an additional 775,000 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Banco Santander Brasil during the fourth quarter worth approximately $4,735,000. Hantz Financial Services Inc. increased its stake in Banco Santander Brasil by 23.2% in the 4th quarter. Hantz Financial Services Inc. now owns 48,228 shares of the bank’s stock valued at $295,000 after buying an additional 9,077 shares during the period. May Hill Capital LLC purchased a new stake in Banco Santander Brasil in the 4th quarter worth approximately $83,000. Finally, Checchi Capital Advisers LLC grew its holdings in shares of Banco Santander Brasil by 10.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 17,463 shares of the bank’s stock valued at $107,000 after acquiring an additional 1,585 shares in the last quarter. Institutional investors and hedge funds own 14.53% of the company’s stock.

About Banco Santander Brasil

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.