Zacks Research Upgrades Banco Santander Brasil (NYSE:BSBR) to “Hold”

Banco Santander Brasil (NYSE:BSBR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group lowered Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, August 24th. HSBC reiterated a “hold” rating and issued a $6.20 price target (down from $7.20) on shares of Banco Santander Brasil in a research report on Tuesday, September 15th. Weiss Ratings upgraded Banco Santander Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. cut Banco Santander Brasil from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Banco Santander Brasil currently has a consensus rating of “Hold” and an average target price of $6.10.

Banco Santander Brasil Price Performance

Shares of NYSE:BSBR opened at $5.67 on Tuesday. Banco Santander Brasil has a 52 week low of $4.95 and a 52 week high of $7.32. The firm has a fifty day simple moving average of $5.76 and a two-hundred day simple moving average of $5.64. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.56 and a quick ratio of 1.56.

Insiders Place Their Bets

In other news, insider Rudolf Gschliffner sold 11,507 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $5.73, for a total value of $65,935.11. Following the completion of the sale, the insider owned 33,192 shares in the company, valued at approximately $190,190.16. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leonardo Mendes Cabral sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $5.68, for a total transaction of $113,600.00. Following the completion of the sale, the insider owned 112,571 shares of the company’s stock, valued at $639,403.28. This trade represents a 15.09% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 233,438 shares of company stock valued at $1,338,299. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Banco Santander Brasil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSBR. GAMMA Investing LLC raised its position in Banco Santander Brasil by 20.9% in the 3rd quarter. GAMMA Investing LLC now owns 22,429 shares of the bank’s stock worth $125,000 after purchasing an additional 3,877 shares during the period. Farther Finance Advisors LLC lifted its stake in Banco Santander Brasil by 80.9% in the third quarter. Farther Finance Advisors LLC now owns 4,501 shares of the bank’s stock worth $25,000 after purchasing an additional 2,013 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Banco Santander Brasil during the second quarter valued at approximately $57,000. Engineers Gate Manager LP boosted its position in shares of Banco Santander Brasil by 765.6% during the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock valued at $731,000 after buying an additional 123,100 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Banco Santander Brasil during the second quarter valued at approximately $476,000. 14.53% of the stock is owned by hedge funds and other institutional investors.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. It provides banking and financial services to individuals, small and midsize businesses, corporate clients and institutional customers throughout Brazil.

The company’s offerings include checking and savings accounts, consumer and commercial loans, credit and debit cards, mortgages, payroll lending, insurance, investment products, foreign-exchange services, cash management and payment solutions.