Banco Santander Brasil (NYSE:BSBR) Shares Gap Up – Here’s Why

Shares of Banco Santander Brasil SA (NYSE:BSBR) gapped up before the market opened on Thursday. The stock had previously closed at $4.90, but opened at $5.11. Banco Santander Brasil shares last traded at $5.0750, with a volume of 1,164,631 shares trading hands.

Analyst Upgrades and Downgrades

BSBR has been the subject of a number of recent research reports. Zacks Research upgraded Banco Santander Brasil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 20th. UBS Group cut Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. Weiss Ratings downgraded Banco Santander Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th. HSBC downgraded Banco Santander Brasil from a “buy” rating to a “hold” rating and reduced their price target for the company from $7.20 to $6.20 in a report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. lowered Banco Santander Brasil from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $6.50 to $6.00 in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.10.

Banco Santander Brasil Stock Performance

The stock’s fifty day moving average price is $5.48 and its 200 day moving average price is $5.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 3.34.

Banco Santander Brasil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, October 22nd will be paid a dividend of $0.0804 per share. The ex-dividend date is Thursday, October 22nd. This represents a $0.32 annualized dividend and a yield of 6.4%. This is a negative change from Banco Santander Brasil’s previous quarterly dividend of $0.1045.

Insiders Place Their Bets

In other Banco Santander Brasil news, VP Cezar Augusto Janikian sold 6,600 shares of Banco Santander Brasil stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $5.72, for a total value of $37,752.00. Following the completion of the sale, the vice president owned 47,007 shares of the company’s stock, valued at approximately $268,880.04. This trade represents a 12.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edmilson Saes sold 50,000 shares of Banco Santander Brasil stock in a transaction 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 sale, the vice president directly owned 300,203 shares of the company’s stock, valued at approximately $1,738,175.37. The trade was a 14.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 92,110 shares of company stock valued at $530,381. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Banco Santander Brasil

Several institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in Banco Santander Brasil by 80.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,501 shares of the bank’s stock worth $25,000 after buying an additional 2,013 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Banco Santander Brasil by 251.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after acquiring an additional 4,153 shares during the period. Royal Bank of Canada grew its stake in shares of Banco Santander Brasil by 41.6% in the first quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock worth $43,000 after acquiring an additional 2,098 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Banco Santander Brasil in the second quarter worth approximately $57,000. Finally, May Hill Capital LLC purchased a new position in shares of Banco Santander Brasil during the third quarter valued at approximately $73,000. 14.53% of the stock is owned by hedge funds and other institutional investors.

About Banco Santander Brasil

Banco Santander Brasil S.A. is a full-service bank serving individuals, small and midsize businesses, and large companies in Brazil. Its offerings include deposit accounts, consumer and business loans, credit and debit cards, payment services, insurance, investment products, and wealth management. The bank also provides corporate and investment banking services, including financing, cash management, and services for companies operating in domestic and international markets. It serves customers throughout Brazil through digital channels and a network of branches and other service locations.