Banco Santander Brasil (NYSE:BSBR) Upgraded to “Buy” at Wall Street Zen

Banco Santander Brasil (NYSE:BSBR) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Separately, Weiss Ratings cut Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Banco Santander Brasil Price Performance

Shares of NYSE:BSBR opened at $5.20 on Friday. The stock’s 50-day moving average price is $5.46 and its 200-day moving average price is $6.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.25. Banco Santander Brasil has a 12-month low of $4.62 and a 12-month high of $7.32.

Insiders Place Their Bets

In other news, insider Eduardo Alvarez Garrido sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $5.43, for a total transaction of $40,725.00. Following the completion of the transaction, the insider directly owned 24,701 shares of the company’s stock, valued at approximately $134,126.43. This represents a 23.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mario Roberto Opice Leao bought 276,851 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average price of $5.38 per share, with a total value of $1,489,458.38. Following the completion of the acquisition, the chief executive officer owned 536,751 shares of the company’s stock, valued at $2,887,720.38. This trade represents a 106.52% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 500,251 shares of company stock worth $2,651,888. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BSBR. Royal Bank of Canada raised its position in Banco Santander Brasil by 288.1% during the 4th quarter. Royal Bank of Canada now owns 5,038 shares of the bank’s stock valued at $31,000 after purchasing an additional 3,740 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Banco Santander Brasil by 251.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after buying an additional 4,153 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Banco Santander Brasil during the fourth quarter valued at approximately $36,000. Cubist Systematic Strategies LLC purchased a new position in shares of Banco Santander Brasil during the first quarter valued at approximately $46,000. Finally, Tuttle Capital Management LLC bought a new position in shares of Banco Santander Brasil during the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 14.53% of the company’s stock.

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.