UBS Group Downgrades Banco Santander Brasil (NYSE:BSBR) to Neutral

Banco Santander Brasil (NYSE:BSBR) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat Ratings reports.

BSBR has been the topic of a number of other research reports. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. JPMorgan Chase & Co. lowered Banco Santander Brasil from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $6.00.

Banco Santander Brasil Price Performance

NYSE BSBR opened at $5.74 on Monday. 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 company has a 50 day moving average of $5.42 and a 200-day moving average of $5.79. Banco Santander Brasil has a 1-year low of $4.88 and a 1-year high of $7.32.

Insiders Place Their Bets

In other Banco Santander Brasil news, insider Mariana Cahen Margulies sold 42,545 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $242,506.50. Following the sale, the insider owned 40,275 shares of the company’s stock, valued at approximately $229,567.50. The trade was a 51.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gustavo De Sousa Santos sold 29,200 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $166,440.00. Following the transaction, the insider owned 53,023 shares of the company’s stock, valued at $302,231.10. This trade represents a 35.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 500,251 shares of company stock worth $2,651,888 and have sold 143,161 shares worth $817,578. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Banco Santander Brasil

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its position in 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 purchasing an additional 430,531 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Banco Santander Brasil during the fourth quarter worth about $9,772,000. Alpine Global Management LLC acquired a new position in shares of Banco Santander Brasil in the fourth quarter valued at approximately $4,735,000. Alliancebernstein L.P. increased its stake in shares of Banco Santander Brasil by 99.6% in the third quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock valued at $1,829,000 after buying an additional 163,314 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Banco Santander Brasil by 2,671.0% in the third quarter. Millennium Management LLC now owns 326,451 shares of the bank’s stock valued at $1,825,000 after buying an additional 314,670 shares during the period. Institutional investors own 14.53% of the company’s stock.

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.