Banco Santander Brasil (NYSE:BSBR) Hits New 52-Week High – Still a Buy?

Shares of Banco Santander Brasil SA (NYSE:BSBR) reached a new 52-week high during trading on Wednesday . The company traded as high as $6.43 and last traded at $6.4350, with a volume of 143327 shares trading hands. The stock had previously closed at $6.22.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BSBR shares. The Goldman Sachs Group downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Wall Street Zen upgraded Banco Santander Brasil from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Santander Brasil in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.70.

Banco Santander Brasil Trading Up 3.1%

The stock’s 50-day simple moving average is $5.66 and its 200-day simple moving average is $5.34. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 3.28.

Banco Santander Brasil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Thursday, October 23rd were given a dividend of $0.0983 per share. This is a boost from Banco Santander Brasil’s previous quarterly dividend of $0.07. This represents a $0.39 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Thursday, October 23rd.

Hedge Funds Weigh In On Banco Santander Brasil

A number of institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. raised its position in Banco Santander Brasil by 11.9% in the first quarter. American Century Companies Inc. now owns 614,264 shares of the bank’s stock worth $2,893,000 after acquiring an additional 65,333 shares during the period. Wellington Management Group LLP raised its holdings in Banco Santander Brasil by 74.0% in the 1st quarter. Wellington Management Group LLP now owns 1,606,117 shares of the bank’s stock worth $7,565,000 after purchasing an additional 683,045 shares during the period. Cordatus Wealth Management LLC purchased a new position in Banco Santander Brasil during the first quarter valued at $611,000. XTX Topco Ltd bought a new stake in Banco Santander Brasil during the first quarter valued at about $87,000. Finally, GAMMA Investing LLC lifted its holdings in Banco Santander Brasil by 27.5% during the second quarter. GAMMA Investing LLC now owns 20,256 shares of the bank’s stock valued at $110,000 after purchasing an additional 4,372 shares in the last quarter. Institutional investors own 14.53% of the company’s stock.

About Banco Santander Brasil

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.