Banco Santander Brasil (NYSE:BSBR) Sees Large Volume Increase – Here’s Why

Banco Santander Brasil SA (NYSE:BSBR) shares saw an uptick in trading volume on Thursday . 3,579,981 shares changed hands during trading, an increase of 136% from the previous session’s volume of 1,519,379 shares.The stock last traded at $5.7750 and had previously closed at $5.75.

Analysts Set New Price Targets

Several research firms have recently commented on BSBR. Weiss Ratings raised Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Wall Street Zen lowered Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research cut Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Finally, JPMorgan Chase & Co. lowered Banco Santander Brasil from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $6.00.

Banco Santander Brasil Stock Up 0.4%

The business has a fifty day moving average of $5.37 and a 200 day moving average of $5.86. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.25.

Banco Santander Brasil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Thursday, July 30th will be paid a $0.1045 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 7.2%.

Insiders Place Their Bets

In other Banco Santander Brasil news, insider Gustavo De Sousa Santos sold 29,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total value of $166,440.00. Following the completion of the sale, the insider owned 53,023 shares of the company’s stock, valued at approximately $302,231.10. This represents a 35.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robson De Souza Rezende sold 39,874 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $5.70, for a total transaction of $227,281.80. Following the completion of the sale, the insider directly owned 31,003 shares of the company’s stock, valued at $176,717.10. The trade was a 56.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 500,251 shares of company stock worth $2,651,888 and sold 150,251 shares worth $855,961. Insiders own 0.06% of the company’s stock.

Institutional Trading of Banco Santander Brasil

A number of large investors have recently made changes to their positions in BSBR. EverSource Wealth Advisors LLC raised its stake in Banco Santander Brasil by 251.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after buying an additional 4,153 shares during the period. Royal Bank of Canada grew its stake in Banco Santander Brasil by 41.6% in the first quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock valued at $43,000 after acquiring an additional 2,098 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Banco Santander Brasil by 9.4% in the first quarter. Public Employees Retirement System of Ohio now owns 81,609 shares of the bank’s stock worth $484,000 after acquiring an additional 6,982 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Banco Santander Brasil by 43.5% in the first quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock worth $1,316,000 after acquiring an additional 67,224 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda raised its position in shares of 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 worth $515,000 after purchasing an additional 32,189 shares during the period. Institutional investors own 14.53% of the company’s stock.

Banco Santander Brasil Company Profile

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.