Short Interest in Banco Santander (Brasil) S.A. (NYSE:BSBR) Drops By 20.1%

Banco Santander (Brasil) S.A. (NYSE:BSBR) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 934,500 shares, a drop of 20.1% from the October 31st total of 1,170,000 shares. Based on an average daily trading volume, of 297,500 shares, the days-to-cover ratio is currently 3.1 days.

Banco Santander (Brasil) Price Performance

Shares of BSBR stock traded down $0.22 on Friday, reaching $4.16. The company’s stock had a trading volume of 467,902 shares, compared to its average volume of 449,519. The stock’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $5.14. Banco Santander has a 1 year low of $4.05 and a 1 year high of $6.66. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

Banco Santander (Brasil) Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, October 21st were given a dividend of $0.0714 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.29 annualized dividend and a dividend yield of 6.87%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BSBR shares. StockNews.com downgraded shares of Banco Santander (Brasil) from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised Banco Santander (Brasil) from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $7.00 to $6.00 in a report on Monday, November 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Banco Santander (Brasil) by 49.2% in the third quarter. Wellington Management Group LLP now owns 1,137,946 shares of the bank’s stock worth $5,986,000 after acquiring an additional 375,364 shares during the period. Marshall Wace LLP boosted its position in Banco Santander (Brasil) by 44.0% in the second quarter. Marshall Wace LLP now owns 1,099,003 shares of the bank’s stock valued at $5,429,000 after buying an additional 335,915 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Banco Santander (Brasil) by 107.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 378,361 shares of the bank’s stock valued at $1,990,000 after acquiring an additional 196,141 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Banco Santander (Brasil) during the second quarter worth approximately $575,000. Finally, Longfellow Investment Management Co. LLC increased its stake in Banco Santander (Brasil) by 220.2% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 120,528 shares of the bank’s stock worth $595,000 after buying an additional 82,890 shares in the last quarter. 14.53% of the stock is currently owned by institutional investors.

Banco Santander (Brasil) Company Profile

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.