Banco Santander (Brasil) S.A. (NYSE:BSBR) Sees Large Drop in Short Interest

Banco Santander (Brasil) S.A. (NYSE:BSBR) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 695,900 shares, a decline of 35.6% from the May 15th total of 1,080,000 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 537,400 shares, the days-to-cover ratio is currently 1.3 days.

Banco Santander (Brasil) Stock Down 1.0%

Shares of NYSE:BSBR traded down $0.06 on Tuesday, reaching $5.42. The company had a trading volume of 199,718 shares, compared to its average volume of 630,927. The stock has a market capitalization of $20.16 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.73 and a beta of 0.76. The stock has a 50-day moving average price of $5.10 and a 200 day moving average price of $4.62. Banco Santander has a twelve month low of $3.75 and a twelve month high of $5.77. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Banco Santander (Brasil) Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, May 19th. Investors of record on Thursday, April 24th were issued a dividend of $0.0463 per share. This represents a dividend yield of 3.97%. The ex-dividend date was Wednesday, April 23rd. Banco Santander (Brasil)’s dividend payout ratio is currently 22.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BSBR. Wellington Management Group LLP lifted its position in Banco Santander (Brasil) by 74.0% during the 1st quarter. Wellington Management Group LLP now owns 1,606,117 shares of the bank’s stock worth $7,565,000 after acquiring an additional 683,045 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Banco Santander (Brasil) in the fourth quarter worth about $983,000. Marshall Wace LLP lifted its position in shares of Banco Santander (Brasil) by 35.1% during the 4th quarter. Marshall Wace LLP now owns 750,403 shares of the bank’s stock worth $2,934,000 after purchasing an additional 194,984 shares during the last quarter. Cordatus Wealth Management LLC bought a new stake in Banco Santander (Brasil) during the 1st quarter valued at approximately $611,000. Finally, Bank of America Corp DE grew its holdings in Banco Santander (Brasil) by 92.3% in the 4th quarter. Bank of America Corp DE now owns 256,119 shares of the bank’s stock valued at $1,001,000 after buying an additional 122,924 shares during the last quarter. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Banco Santander (Brasil) from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. UBS Group upgraded shares of Banco Santander (Brasil) from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.35.

About Banco Santander (Brasil)

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.