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

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

BSBR has been the topic of several other research reports. JPMorgan Chase & Co. lowered Banco Santander Brasil from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $6.50 to $6.00 in a report on Thursday, July 30th. UBS Group lowered Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. Wall Street Zen cut Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded shares of Banco Santander Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, HSBC reissued a “hold” rating and issued a $6.20 price target (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.10.

Banco Santander Brasil Trading Up 0.8%

Banco Santander Brasil stock opened at $5.67 on Tuesday. The business has a 50 day moving average price of $5.76 and a two-hundred day moving average price of $5.64. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 3.34. Banco Santander Brasil has a 12 month low of $4.95 and a 12 month high of $7.32.

Insiders Place Their Bets

In other news, VP Edmilson Saes sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $5.79, for a total value of $289,500.00. Following the completion of the transaction, the vice president directly owned 300,203 shares of the company’s stock, valued at approximately $1,738,175.37. This represents a 14.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mariana Cahen Margulies sold 42,545 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total value of $242,506.50. Following the transaction, the insider owned 40,275 shares of the company’s stock, valued at $229,567.50. This trade represents a 51.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 233,438 shares of company stock worth $1,338,299 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP raised its stake in Banco Santander Brasil by 765.6% during the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock worth $731,000 after acquiring an additional 123,100 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Banco Santander Brasil in the 2nd quarter worth about $476,000. Dimensional Fund Advisors LP grew its holdings in shares of Banco Santander Brasil by 43.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock worth $1,316,000 after purchasing an additional 67,224 shares during the last quarter. SPX Gestao de Recursos Ltda grew its holdings in shares of Banco Santander Brasil by 58.9% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock worth $515,000 after purchasing an additional 32,189 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Banco Santander Brasil during the 2nd quarter worth about $57,000. 14.53% of the stock is currently owned by institutional investors and hedge funds.

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.