Banco Santander Brasil (NYSE:BSBR) Shares Gap Up – Here’s Why

Banco Santander Brasil SA (NYSE:BSBR)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $4.90, but opened at $5.11. Banco Santander Brasil shares last traded at $5.0750, with a volume of 1,164,631 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BSBR. UBS Group lowered shares of Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. Zacks Research raised Banco Santander Brasil from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 20th. Weiss Ratings downgraded Banco Santander Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. JPMorgan Chase & Co. lowered Banco Santander Brasil from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. Finally, HSBC cut Banco Santander Brasil from a “buy” rating to a “hold” rating and reduced their price objective for the company from $7.20 to $6.20 in a research report on Tuesday, September 15th. Five equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.10.

Banco Santander Brasil Trading Up 3.0%

The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 3.34. The company’s 50 day moving average price is $5.48 and its two-hundred day moving average price is $5.75.

Banco Santander Brasil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, October 22nd will be issued a dividend of $0.0804 per share. This is a decrease from Banco Santander Brasil’s previous quarterly dividend of $0.1045. This represents a $0.32 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Thursday, October 22nd.

Insider Buying and Selling at Banco Santander Brasil

In other news, insider Leonardo Mendes Cabral sold 20,000 shares of Banco Santander Brasil stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $5.68, for a total transaction of $113,600.00. Following the transaction, the insider owned 112,571 shares in the company, valued at $639,403.28. This trade represents a 15.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rudolf Gschliffner sold 11,507 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $5.73, for a total transaction of $65,935.11. Following the sale, the insider directly owned 33,192 shares of the company’s stock, valued at approximately $190,190.16. The trade was a 25.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 92,110 shares of company stock valued at $530,381 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Banco Santander Brasil

Hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP raised its holdings in Banco Santander Brasil by 765.6% in the 2nd quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock worth $731,000 after purchasing an additional 123,100 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Banco Santander Brasil during the second quarter valued at about $476,000. Dimensional Fund Advisors LP grew its holdings in Banco Santander Brasil by 43.5% during the first quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 67,224 shares during the period. SPX Gestao de Recursos Ltda grew its holdings in Banco Santander Brasil by 58.9% during the first quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock valued at $515,000 after purchasing an additional 32,189 shares during the period. Finally, Aprio Wealth Management LLC purchased a new stake in Banco Santander Brasil in the third quarter worth about $147,000. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander Brasil Company Profile

Banco Santander Brasil S.A. is a full-service bank serving individuals, small and midsize businesses, and large companies in Brazil. Its offerings include deposit accounts, consumer and business loans, credit and debit cards, payment services, insurance, investment products, and wealth management. The bank also provides corporate and investment banking services, including financing, cash management, and services for companies operating in domestic and international markets. It serves customers throughout Brazil through digital channels and a network of branches and other service locations.