Banco Santander Brasil (NYSE:BSBR) Stock Rating Lowered by JPMorgan Chase & Co.

Banco Santander Brasil (NYSE:BSBR) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Thursday, Marketbeat Ratings reports. They presently have a $6.00 price objective on the bank’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 17.30% from the stock’s current price.

Several other equities analysts also recently commented on the company. Wall Street Zen downgraded Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Finally, Weiss Ratings lowered shares of Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Banco Santander Brasil presently has an average rating of “Reduce” and a consensus price target of $6.00.

Banco Santander Brasil Price Performance

Shares of NYSE BSBR opened at $5.12 on Thursday. Banco Santander Brasil has a fifty-two week low of $4.62 and a fifty-two week high of $7.32. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25. The business’s 50 day moving average price is $5.32 and its 200-day moving average price is $5.90.

Insider Buying and Selling at Banco Santander Brasil

In other Banco Santander Brasil news, insider Eduardo Alvarez Garrido sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.43, for a total value of $40,725.00. Following the completion of the sale, the insider directly owned 24,701 shares in the company, valued at approximately $134,126.43. This represents a 23.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mario Roberto Opice Leao purchased 276,851 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average cost of $5.38 per share, for a total transaction of $1,489,458.38. Following the transaction, the chief executive officer directly owned 536,751 shares in the company, valued at approximately $2,887,720.38. This represents a 106.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 500,251 shares of company stock worth $2,651,888 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Banco Santander Brasil

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aquamarine Financial Cayman Ltd lifted its stake in Banco Santander Brasil by 8.6% in the fourth quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank’s stock worth $59,697,000 after acquiring an additional 775,000 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Banco Santander Brasil by 17.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank’s stock valued at $16,531,000 after purchasing an additional 430,531 shares during the period. Empowered Funds LLC bought a new stake in shares of Banco Santander Brasil in the 4th quarter valued at about $9,772,000. Alpine Global Management LLC bought a new stake in shares of Banco Santander Brasil in the 4th quarter valued at about $4,735,000. Finally, Alliancebernstein L.P. lifted its position in shares of Banco Santander Brasil by 99.6% in the 3rd quarter. Alliancebernstein L.P. now owns 327,261 shares of the bank’s stock worth $1,829,000 after purchasing an additional 163,314 shares during the period. 14.53% of the stock is currently owned by institutional investors.

About Banco Santander Brasil

Banco Santander Brasil SA is the Brazilian unit of Spain-based Grupo Santander and one of the country’s major commercial banks. Headquartered in São Paulo, the bank serves a broad client base across Brazil through an integrated network of branches, ATMs and digital channels. Its shares are represented abroad via American Depositary Shares listed on the New York Stock Exchange under the ticker BSBR.

The bank offers a full range of financial products and services for retail, small and medium-sized enterprises, and corporate clients.