Banco Santander Brasil (NYSE:BSBR) Raised to “Buy” at Zacks Investment Research

Banco Santander Brasil (NYSE:BSBR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The brokerage presently has a $12.00 price target on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.67% from the stock’s current price.

According to Zacks, “Banco Santander, S.A. is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company’s commercial model satisfies the needs of all types of customers: individuals with various income levels. “

A number of other research analysts also recently commented on BSBR. ValuEngine downgraded Banco Santander Brasil from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Morgan Stanley raised Banco Santander Brasil from an “equal” rating to a “weight” rating in a research report on Wednesday, August 7th. Finally, Citigroup upgraded Banco Santander Brasil from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.00.

Banco Santander Brasil stock traded up $0.12 during midday trading on Monday, hitting $11.25. 1,142,998 shares of the company were exchanged, compared to its average volume of 884,238. The company’s fifty day moving average price is $11.25 and its 200-day moving average price is $11.25. The company has a market cap of $41.49 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.14 and a quick ratio of 0.14. Banco Santander Brasil has a fifty-two week low of $9.68 and a fifty-two week high of $13.73.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its stake in shares of Banco Santander Brasil by 183.7% in the third quarter. Parallel Advisors LLC now owns 2,789 shares of the bank’s stock valued at $30,000 after buying an additional 1,806 shares during the period. Signaturefd LLC boosted its position in Banco Santander Brasil by 114.0% during the third quarter. Signaturefd LLC now owns 3,824 shares of the bank’s stock valued at $42,000 after acquiring an additional 2,037 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Banco Santander Brasil during the 2nd quarter worth about $43,000. Susquehanna Fundamental Investments LLC lifted its position in Banco Santander Brasil by 22.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 21,100 shares of the bank’s stock valued at $250,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Banco Santander Brasil in the 2nd quarter valued at about $104,000. 1.07% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA provides commercial banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. It operates through two segments, Commercial Banking and Global Wholesale Banking. The company offers checking and savings accounts; priority services, such as withdrawals, debit cards, deposits, and transfers; onshore and offshore financial products and services, investment advice, and asset management services; consumer credit for purchasing motor vehicles, and other goods and services; local loans, commercial finance, trade finance, guarantees, structured loans, and cash management and funding solutions, as well as Banco Nacional de Desenvolvimento Econômico e Social on-lending transfer services; payroll, mortgage, and agribusiness loans, as well as microcredit; investment products; and credit cards and foreign exchange services.

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