Key Points
- Insider sale: Celso Mateus De Queiroz sold 29,299 Banco Santander Brasil shares for $169,348.22, reducing his direct ownership by 55.14% to 23,838 shares.
- Dividend and stock performance: BSBR opened at $5.75, near its 200-day average of $5.86, and recently declared a $0.1045 quarterly dividend, representing a 7.3% annualized yield.
- Analyst outlook is cautious: Recent rating changes include downgrades from Wall Street Zen, Zacks Research and JPMorgan, while the consensus rating is “Reduce” with a $6.00 price target.
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Banco Santander Brasil SA (NYSE:BSBR - Get Free Report) insider Celso Mateus De Queiroz sold 29,299 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $5.78, for a total transaction of $169,348.22. Following the completion of the transaction, the insider directly owned 23,838 shares in the company, valued at $137,783.64. This trade represents a 55.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Banco Santander Brasil Stock Down 0.3%
Shares of Banco Santander Brasil stock opened at $5.75 on Wednesday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.29 and a current ratio of 1.29. The stock's 50 day simple moving average is $5.36 and its 200-day simple moving average is $5.86. Banco Santander Brasil SA has a 1-year low of $4.74 and a 1-year high of $7.32.
Banco Santander Brasil Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Thursday, July 30th will be issued a $0.1045 dividend. This represents a $0.42 annualized dividend and a yield of 7.3%. The ex-dividend date is Thursday, July 30th.
Institutional Investors Weigh In On Banco Santander Brasil
Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC purchased a new stake in Banco Santander Brasil during the fourth quarter worth about $9,772,000. Alpine Global Management LLC purchased a new position in shares of Banco Santander Brasil in the fourth quarter valued at approximately $4,735,000. Aquamarine Financial Cayman Ltd boosted its stake in shares of Banco Santander Brasil by 8.6% in the fourth quarter. Aquamarine Financial Cayman Ltd now owns 9,770,322 shares of the bank's stock valued at $59,697,000 after purchasing an additional 775,000 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Banco Santander Brasil by 17.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,957,288 shares of the bank's stock valued at $16,531,000 after purchasing an additional 430,531 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Banco Santander Brasil by 2,671.0% during the 3rd quarter. Millennium Management LLC now owns 326,451 shares of the bank's stock worth $1,825,000 after buying an additional 314,670 shares during the period. Hedge funds and other institutional investors own 14.53% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on BSBR shares. Wall Street Zen cut shares of Banco Santander Brasil from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of Banco Santander Brasil from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. Zacks Research lowered shares of Banco Santander Brasil from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. Finally, JPMorgan Chase & Co. cut shares of Banco Santander Brasil from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $6.50 to $6.00 in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $6.00.
View Our Latest Stock Report on BSBR
About Banco Santander Brasil
(
Get Free Report)
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.
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