Banco Santander Brasil (NYSE:BSBR) Raised to Strong-Buy at Wall Street Zen

Banco Santander Brasil (NYSE:BSBR) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Separately, Weiss Ratings lowered shares of Banco Santander Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Banco Santander Brasil Price Performance

Banco Santander Brasil stock opened at $5.66 on Friday. Banco Santander Brasil has a 12 month low of $4.26 and a 12 month high of $7.32. The company has a debt-to-equity ratio of 3.15, a quick ratio of 1.62 and a current ratio of 1.62. The stock’s 50-day moving average is $6.42 and its 200-day moving average is $6.04.

Insider Activity at Banco Santander Brasil

In related news, insider Rafael Abujamra Kappaz sold 31,285 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $5.76, for a total value of $180,201.60. Following the completion of the transaction, the insider owned 35,049 shares of the company’s stock, valued at approximately $201,882.24. This represents a 47.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Banco Santander Brasil

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC acquired a new stake in Banco Santander Brasil during the fourth quarter worth about $9,772,000. Aquamarine Financial Cayman Ltd boosted its stake in 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 acquiring an additional 775,000 shares during the period. Alpine Global Management LLC bought a new position in shares of Banco Santander Brasil during the fourth quarter valued at approximately $4,735,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Banco Santander Brasil by 17.0% during 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 during the last quarter. Finally, Millennium Management LLC raised its position in shares of 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 purchasing an additional 314,670 shares during the period. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Santander Brasil

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.