Banco Santander Brasil (NYSE:BSBR) Given New $6.50 Price Target at JPMorgan Chase & Co.

Banco Santander Brasil (NYSE:BSBR) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $7.00 to $6.50 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.87% from the stock’s current price.

A number of other research analysts also recently weighed in on BSBR. Wall Street Zen upgraded shares of Banco Santander Brasil from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings cut shares of Banco Santander Brasil from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Banco Santander Brasil presently has an average rating of “Hold” and an average target price of $6.50.

Banco Santander Brasil Stock Up 1.9%

NYSE BSBR opened at $5.29 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 3.25. The company has a 50 day moving average price of $5.46 and a two-hundred day moving average price of $6.00. 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, CEO Mario Roberto Opice Leao bought 276,851 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average price of $5.38 per share, for a total transaction of $1,489,458.38. Following the acquisition, the chief executive officer directly owned 536,751 shares of the company’s stock, valued at $2,887,720.38. The trade was a 106.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eduardo Alvarez Garrido sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $5.43, for a total transaction of $40,725.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 500,251 shares of company stock worth $2,651,888 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Banco Santander Brasil by 288.1% in the fourth quarter. Royal Bank of Canada now owns 5,038 shares of the bank’s stock valued at $31,000 after acquiring an additional 3,740 shares during the period. EverSource Wealth Advisors LLC increased its position in Banco Santander Brasil by 251.5% during the first quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after acquiring an additional 4,153 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Banco Santander Brasil during the fourth quarter worth $36,000. Cubist Systematic Strategies LLC acquired a new position in Banco Santander Brasil during the 1st quarter valued at $46,000. Finally, Tuttle Capital Management LLC acquired a new position in Banco Santander Brasil during the 4th quarter valued at $66,000. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Brasil Company Profile

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.