Zacks Investment Research upgraded shares of Banco Santander Brasil SA (NYSE:BSBR) from a hold rating to a strong-buy rating in a research note released on Monday morning. The firm currently has $11.00 target price on the bank’s stock.

According to Zacks, “Banco Santander, S.A. is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company’s commercial model satisfies the needs of all types of customers: individuals with various income levels. “

BSBR has been the subject of several other research reports. BidaskClub cut shares of Banco Santander Brasil SA from a buy rating to a hold rating in a research note on Friday, July 28th. ValuEngine cut shares of Banco Santander Brasil SA from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. Finally, Citigroup Inc. upgraded shares of Banco Santander Brasil SA from a sell rating to a neutral rating in a research note on Tuesday, July 4th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $13.88.

Banco Santander Brasil SA (BSBR) opened at 9.46 on Monday. Banco Santander Brasil SA has a 52-week low of $6.86 and a 52-week high of $11.75. The firm has a market cap of $35.49 billion, a P/E ratio of 14.33 and a beta of 1.56. The company’s 50 day moving average is $9.12 and its 200 day moving average is $8.37.

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The firm also recently announced a special dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Wednesday, October 11th will be given a dividend of $0.0422 per share. The ex-dividend date is Tuesday, October 10th. This is a boost from Banco Santander Brasil SA’s previous special dividend of $0.04. Banco Santander Brasil SA’s payout ratio is presently 30.91%.

A number of institutional investors and hedge funds have recently made changes to their positions in BSBR. Wells Fargo & Company MN raised its position in Banco Santander Brasil SA by 168.8% during the first quarter. Wells Fargo & Company MN now owns 98,044 shares of the bank’s stock worth $864,000 after acquiring an additional 61,565 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Banco Santander Brasil SA by 20.9% during the first quarter. Parametric Portfolio Associates LLC now owns 201,563 shares of the bank’s stock worth $1,778,000 after acquiring an additional 34,809 shares during the last quarter. Wellington Management Group LLP raised its position in Banco Santander Brasil SA by 292.5% during the first quarter. Wellington Management Group LLP now owns 247,338 shares of the bank’s stock worth $2,182,000 after acquiring an additional 184,329 shares during the last quarter. Vanguard Group Inc. raised its position in Banco Santander Brasil SA by 10.7% during the first quarter. Vanguard Group Inc. now owns 5,411,354 shares of the bank’s stock worth $47,728,000 after acquiring an additional 521,752 shares during the last quarter. Finally, Morgan Stanley raised its position in Banco Santander Brasil SA by 216.4% during the first quarter. Morgan Stanley now owns 1,818,873 shares of the bank’s stock worth $16,042,000 after acquiring an additional 1,244,015 shares during the last quarter. Institutional investors own 1.66% of the company’s stock.

About Banco Santander Brasil SA

Banco Santander (Brasil) SA (the Bank) is indirectly controlled by Banco Santander, SA, and is an institution of the Financial and Prudential Group. The Bank operates through two segments, Commercial Banking and Global Wholesale Banking. The Company conducts its operations by means of portfolios such as commercial, investment, lending and financing, mortgage lending, leasing, credit card operations and foreign exchange.

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Analyst Recommendations for Banco Santander Brasil SA (NYSE:BSBR)

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