Banco Santander Brasil (NYSE:BSBR) Shares Break Above 200 Day Moving Average – Time to Sell?

Banco Santander Brasil SA (NYSE:BSBR) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.65 and traded as high as $5.82. Banco Santander Brasil shares last traded at $5.7850, with a volume of 1,711,797 shares changing hands.

Analyst Upgrades and Downgrades

BSBR has been the subject of a number of research reports. HSBC reiterated a “hold” rating and set a $6.20 target price (down from $7.20) on shares of Banco Santander Brasil in a research report on Tuesday, September 15th. JPMorgan Chase & Co. cut Banco Santander Brasil from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a 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. Finally, Zacks Research cut shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.10.

Banco Santander Brasil Trading Down 2.5%

The business has a fifty day moving average price of $5.78 and a 200 day moving average price of $5.65. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, October 22nd will be paid a dividend of $0.0804 per share. This is a decrease from Banco Santander Brasil’s previous quarterly dividend of $0.1045. This represents a $0.32 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Thursday, October 22nd.

Insider Activity

In other Banco Santander Brasil news, insider Celso Mateus De Queiroz sold 29,299 shares of Banco Santander Brasil stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $5.78, for a total value of $169,348.22. Following the completion of the transaction, the insider directly owned 23,838 shares of the company’s stock, valued at $137,783.64. The trade was a 55.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gustavo De Sousa Santos sold 29,200 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $5.70, for a total transaction of $166,440.00. Following the transaction, the insider owned 53,023 shares of the company’s stock, valued at $302,231.10. This trade represents a 35.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 233,438 shares of company stock valued at $1,338,299. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Banco Santander Brasil

A number of institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC bought a new position in Banco Santander Brasil during the 4th quarter valued at about $4,735,000. Dimensional Fund Advisors LP grew its position in Banco Santander Brasil by 43.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock valued at $1,316,000 after buying an additional 67,224 shares during the last quarter. Engineers Gate Manager LP increased its holdings in shares of Banco Santander Brasil by 765.6% in the 2nd 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 during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Banco Santander Brasil during the 2nd quarter valued at $476,000. Finally, SPX Gestao de Recursos Ltda lifted its stake in Banco Santander Brasil by 58.9% during the first quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock valued at $515,000 after purchasing an additional 32,189 shares during the last quarter. Hedge funds and other institutional investors own 14.53% of the company’s stock.

About Banco Santander Brasil

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the bank serves individuals, small and midsize businesses, corporations, and institutional clients throughout Brazil.

The company provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, credit and debit cards, mortgages, payment solutions, and digital banking. Its broader platform also includes corporate and investment banking, private banking, asset management, insurance, and other financial services.

Santander Brasil’s operations were built in part through the expansion of Banco Santander in Brazil and the acquisition of Banco do Estado de São Paulo (Banespa) in 2000.