The Goldman Sachs Group Upgrades Banco Santander (Brasil) (NYSE:BSBR) to Neutral

The Goldman Sachs Group upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a sell rating to a neutral rating in a report published on Wednesday morning, Marketbeat.com reports. They currently have $4.70 target price on the bank’s stock, up from their prior target price of $4.20.

BSBR has been the topic of a number of other research reports. Bank of America lowered Banco Santander (Brasil) from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. StockNews.com lowered Banco Santander (Brasil) from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. raised 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 research note on Monday, November 25th.

Banco Santander (Brasil) Stock Down 0.4 %

Shares of NYSE:BSBR opened at $4.59 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $4.17 and its 200-day moving average price is $4.79. Banco Santander has a 1 year low of $3.75 and a 1 year high of $6.01.

Banco Santander (Brasil) Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Friday, January 24th will be given a $0.066 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $0.26 dividend on an annualized basis and a yield of 5.75%.

Hedge Funds Weigh In On Banco Santander (Brasil)

Large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in shares of Banco Santander (Brasil) in the 4th quarter valued at $37,000. GAMMA Investing LLC lifted its stake in shares of Banco Santander (Brasil) by 183.6% in the 3rd quarter. GAMMA Investing LLC now owns 9,751 shares of the bank’s stock valued at $51,000 after purchasing an additional 6,313 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Banco Santander (Brasil) in the 4th quarter valued at $47,000. Barclays PLC lifted its stake in shares of Banco Santander (Brasil) by 221.4% in 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 last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Banco Santander (Brasil) in the 3rd quarter valued at $85,000. Institutional investors and hedge funds own 14.53% of the company’s stock.

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.