Banco Santander (Brasil) (NYSE:BSBR) Cut to Neutral at Bank of America

Bank of America downgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat.com reports.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Banco Santander (Brasil) from a “buy” rating to a “hold” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upgraded shares of Banco Santander (Brasil) from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $7.00 to $6.00 in a report on Monday, November 25th.

Banco Santander (Brasil) Trading Down 3.5 %

Shares of NYSE:BSBR opened at $4.14 on Tuesday. The company’s fifty day moving average price is $4.71 and its 200-day moving average price is $5.08. 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 has a one year low of $4.05 and a one year high of $6.66.

Banco Santander (Brasil) Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, October 21st were paid a $0.0714 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.29 dividend on an annualized basis and a yield of 6.90%.

Institutional Investors Weigh In On Banco Santander (Brasil)

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Banco Santander (Brasil) by 221.4% during the 3rd quarter. Barclays PLC now owns 12,428 shares of the bank’s stock valued at $65,000 after purchasing an additional 8,561 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Banco Santander (Brasil) during the third quarter valued at approximately $277,000. Wellington Management Group LLP raised its holdings in shares of Banco Santander (Brasil) by 49.2% during the third quarter. Wellington Management Group LLP now owns 1,137,946 shares of the bank’s stock valued at $5,986,000 after acquiring an additional 375,364 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Banco Santander (Brasil) by 43.7% in the third quarter. Point72 Asset Management L.P. now owns 179,500 shares of the bank’s stock worth $944,000 after acquiring an additional 54,600 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Banco Santander (Brasil) in the third quarter valued at $101,000. Hedge funds and other institutional investors 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.