Banco Santander Brasil SA (NYSE:BSBR) Stock Has Average Target Price of $6.10

Shares of Banco Santander Brasil SA (NYSE:BSBR) have been given an average recommendation of “Reduce” by the six research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.10.

A number of analysts recently weighed in on the company. Zacks Research downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Wall Street Zen lowered shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. HSBC reaffirmed a “hold” rating and issued a $6.20 price objective (down from $7.20) on shares of Banco Santander Brasil in a research note on Tuesday, September 15th. JPMorgan Chase & Co. lowered shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $6.50 to $6.00 in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st.

Banco Santander Brasil Stock Performance

NYSE BSBR opened at $5.71 on Friday. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. The stock’s 50-day simple moving average is $5.70 and its two-hundred day simple moving average is $5.66. Banco Santander Brasil has a twelve month low of $4.94 and a twelve month high of $7.32.

Banco Santander Brasil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, July 30th were paid a dividend of $0.1045 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Thursday, July 30th.

Insider Transactions at Banco Santander Brasil

In related news, insider Robson De Souza Rezende sold 39,874 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $227,281.80. Following the transaction, the insider directly owned 31,003 shares in the company, valued at $176,717.10. This trade represents a 56.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Celso Mateus De Queiroz sold 29,299 shares of Banco Santander Brasil stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $5.78, for a total value of $169,348.22. Following the completion of the transaction, the insider directly owned 23,838 shares in the company, valued at $137,783.64. This trade represents a 55.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 162,638 shares of company stock valued at $930,663. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Banco Santander Brasil

A number of institutional investors have recently made changes to their positions in BSBR. EverSource Wealth Advisors LLC raised its holdings in Banco Santander Brasil by 251.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock valued at $34,000 after buying an additional 4,153 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Banco Santander Brasil during the fourth quarter valued at about $36,000. Royal Bank of Canada raised its stake in shares of Banco Santander Brasil by 41.6% during the first quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock valued at $43,000 after acquiring an additional 2,098 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Banco Santander Brasil during the second quarter worth about $57,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Banco Santander Brasil by 44.2% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,020 shares of the bank’s stock worth $107,000 after purchasing an additional 5,527 shares during the last quarter. Hedge funds and other institutional investors own 14.53% of the company’s stock.

About Banco Santander Brasil

Banco Santander Brasil SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the company provides banking and financial services to individual customers, small and midsize businesses, corporations and institutional clients throughout Brazil.

Its offerings include checking and savings accounts, consumer and commercial lending, credit and debit cards, mortgages, insurance, investments, asset management, payment solutions and foreign-exchange services.