Banco Santander (Brasil) (NYSE:BSBR) Upgraded by JPMorgan Chase & Co. to Overweight Rating

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 Ratings reports. JPMorgan Chase & Co. currently has $6.00 target price on the bank’s stock, down from their previous target price of $7.00.

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

Banco Santander (Brasil) Stock Down 5.0 %

NYSE:BSBR opened at $4.38 on Monday. Banco Santander has a 52 week low of $4.32 and a 52 week high of $6.66. The stock’s fifty day moving average is $4.91 and its two-hundred day moving average is $5.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Banco Santander (Brasil) Cuts Dividend

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

Institutional Trading of Banco Santander (Brasil)

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