Banco Santander Brasil SA (NYSE:BSBR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $8.50 target price on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.70% from the stock’s current price.

Several other research firms have also issued reports on BSBR. Bank of America Corp raised Banco Santander Brasil SA from an “underperform” rating to a “neutral” rating and upped their price target for the company from $18.00 to $29.00 in a research report on Tuesday, May 2nd. Deutsche Bank AG raised Banco Santander Brasil SA from a “sell” rating to a “hold” rating and set a $8.00 price target on the stock in a research report on Thursday, April 27th. Santander raised Banco Santander Brasil SA from a “sell” rating to a “neutral” rating in a research report on Friday, April 7th. Citigroup Inc raised Banco Santander Brasil SA from a “sell” rating to a “neutral” rating in a research report on Friday, April 7th. Finally, Credit Suisse Group AG raised Banco Santander Brasil SA from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.22.

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

Shares of Banco Santander Brasil SA (NYSE:BSBR) traded up 3.85% during trading on Tuesday, hitting $7.82. 2,276,379 shares of the stock were exchanged. The stock has a market cap of $29.40 billion and a PE ratio of 12.45. The stock’s 50 day moving average price is $8.30 and its 200 day moving average price is $9.09. Banco Santander Brasil SA has a one year low of $4.72 and a one year high of $11.75.

The business also recently disclosed a special dividend, which will be paid on Friday, June 2nd. Investors of record on Monday, May 8th will be paid a dividend of $0.035 per share. The ex-dividend date is Thursday, May 4th.

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A number of hedge funds and other institutional investors have recently modified their holdings of BSBR. MIG Capital LLC bought a new position in shares of Banco Santander Brasil SA during the fourth quarter worth approximately $107,000. NN Investment Partners Holdings N.V. bought a new position in shares of Banco Santander Brasil SA during the first quarter worth approximately $118,000. Koch Industries Inc. bought a new position in shares of Banco Santander Brasil SA during the first quarter worth approximately $121,000. Boston Partners bought a new position in shares of Banco Santander Brasil SA during the first quarter worth approximately $155,000. Finally, Two Sigma Securities LLC bought a new position in shares of Banco Santander Brasil SA during the first quarter worth approximately $155,000.

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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