Banco Santander Brasil (NYSE:BSBR) Hits New 12-Month High – Here’s What Happened

Banco Santander Brasil SA (NYSE:BSBR)’s share price reached a new 52-week high on Monday . The company traded as high as $6.14 and last traded at $6.1350, with a volume of 74096 shares traded. The stock had previously closed at $6.05.

Analyst Ratings Changes

A number of research firms recently issued reports on BSBR. Wall Street Zen upgraded Banco Santander Brasil from a “buy” rating to a “strong-buy” rating in a report on Saturday. The Goldman Sachs Group lowered Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Banco Santander Brasil in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.35.

Banco Santander Brasil Stock Performance

The company’s 50-day moving average price is $5.45 and its 200 day moving average price is $5.25. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 3.28.

Banco Santander Brasil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Thursday, October 23rd will be paid a dividend of $0.0983 per share. This represents a $0.39 dividend on an annualized basis and a yield of 6.4%. This is a boost from Banco Santander Brasil’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, October 23rd.

Institutional Trading of Banco Santander Brasil

Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake 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 in the last quarter. American Century Companies Inc. grew its holdings in Banco Santander Brasil by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 744,630 shares of the bank’s stock valued at $4,058,000 after buying an additional 130,366 shares during the last quarter. Cordatus Wealth Management LLC purchased a new position in shares of Banco Santander Brasil during the first quarter valued at approximately $611,000. Arrowstreet Capital Limited Partnership increased its stake in Banco Santander Brasil by 5.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,526,757 shares of the bank’s stock valued at $13,771,000 after purchasing an additional 121,804 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Banco Santander Brasil by 50.5% during the second quarter. Bank of America Corp DE now owns 291,643 shares of the bank’s stock worth $1,589,000 after purchasing an additional 97,875 shares during the period. Institutional investors and hedge funds own 14.53% of the company’s stock.

Banco Santander Brasil Company Profile

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.