Banco Santander (Brasil) (NYSE:BSBR) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a neutral rating to an overweight rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has $6.00 price target on the bank’s stock, down from their prior price target of $7.00.

Separately, StockNews.com raised Banco Santander (Brasil) from a “hold” rating to a “buy” rating in a research report on Monday, November 18th.

Banco Santander (Brasil) Price Performance

BSBR opened at $4.38 on Monday. The stock has a fifty day moving average price of $4.91 and a 200-day moving average price of $5.16. Banco Santander has a 12 month low of $4.32 and a 12 month high of $6.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30.

Banco Santander (Brasil) Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, October 21st were issued a $0.0714 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.29 dividend on an annualized basis and a yield of 6.52%.

Institutional Trading of Banco Santander (Brasil)

Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in shares of Banco Santander (Brasil) during the second quarter worth $575,000. BNP Paribas Financial Markets lifted its stake in Banco Santander (Brasil) by 220.0% in the 1st quarter. BNP Paribas Financial Markets now owns 7,095 shares of the bank’s stock worth $41,000 after purchasing an additional 4,878 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Banco Santander (Brasil) by 107.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 378,361 shares of the bank’s stock worth $1,990,000 after purchasing an additional 196,141 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Banco Santander (Brasil) by 8.5% during the 2nd quarter. American Century Companies Inc. now owns 409,483 shares of the bank’s stock worth $2,023,000 after purchasing an additional 32,238 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Banco Santander (Brasil) by 41.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the bank’s stock valued at $71,000 after purchasing an additional 4,387 shares in the last quarter. 14.53% of the stock is currently owned by hedge funds and other institutional investors.

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.