Zacks Investment Research Lowers Banco Santander Brasil (BSBR) to Hold

Banco Santander Brasil (NYSE:BSBR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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. “

A number of other analysts have also weighed in on the stock. BidaskClub upgraded shares of Banco Santander Brasil from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. JPMorgan Chase & Co. upgraded shares of Banco Santander Brasil from a “neutral” rating to an “overweight” rating and raised their target price for the company from $8.00 to $10.00 in a research report on Wednesday, November 1st. Finally, ValuEngine lowered shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.00.

Banco Santander Brasil (BSBR) traded down $0.44 during midday trading on Monday, hitting $10.72. 1,385,721 shares of the company traded hands, compared to its average volume of 1,527,609. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $41,280.00, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.01 and a beta of 1.65. Banco Santander Brasil has a twelve month low of $6.86 and a twelve month high of $11.75.

Several hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. raised its stake in shares of Banco Santander Brasil by 3.7% during the second quarter. Citigroup Inc. now owns 15,961 shares of the bank’s stock valued at $120,000 after acquiring an additional 566 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Banco Santander Brasil by 5.8% during the second quarter. Advisor Group Inc. now owns 21,268 shares of the bank’s stock valued at $120,000 after acquiring an additional 1,166 shares during the last quarter. Caxton Associates LP raised its stake in shares of Banco Santander Brasil by 11.9% during the second quarter. Caxton Associates LP now owns 47,000 shares of the bank’s stock valued at $354,000 after acquiring an additional 4,997 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Banco Santander Brasil by 20.7% during the second quarter. Tower Research Capital LLC TRC now owns 37,851 shares of the bank’s stock valued at $285,000 after acquiring an additional 6,482 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Banco Santander Brasil by 60.0% during the third quarter. Trexquant Investment LP now owns 25,353 shares of the bank’s stock valued at $222,000 after acquiring an additional 9,506 shares during the last quarter. 1.56% of the stock is owned by hedge funds and other institutional investors.

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Banco Santander Brasil Company Profile

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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