Banco Santander (Brasil) (NYSE:BSBR) Shares Down 4.3% – Here’s What Happened

Banco Santander (Brasil) S.A. (NYSE:BSBR)’s share price fell 4.3% during trading on Wednesday . The company traded as low as $4.38 and last traded at $4.41. 491,831 shares were traded during mid-day trading, an increase of 10% from the average session volume of 448,543 shares. The stock had previously closed at $4.61.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BSBR. JPMorgan Chase & Co. raised Banco Santander (Brasil) from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $7.00 to $6.00 in a research note on Monday. StockNews.com lowered shares of Banco Santander (Brasil) from a “buy” rating to a “hold” rating in a report on Tuesday.

Banco Santander (Brasil) Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a fifty day simple moving average of $4.91 and a two-hundred day simple moving average of $5.16.

Banco Santander (Brasil) Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders 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 yield of 6.52%. The ex-dividend date was Monday, October 21st.

Institutional Investors Weigh In On Banco Santander (Brasil)

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Banco Santander (Brasil) by 183.6% in the third quarter. GAMMA Investing LLC now owns 9,751 shares of the bank’s stock worth $51,000 after buying an additional 6,313 shares in the last quarter. Barclays PLC raised its position 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 worth $65,000 after acquiring an additional 8,561 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Banco Santander (Brasil) by 41.2% in the 2nd 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 during the period. Walleye Capital LLC bought a new stake in shares of Banco Santander (Brasil) during the third quarter valued at approximately $85,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Banco Santander (Brasil) by 68.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,741 shares of the bank’s stock worth $99,000 after purchasing an additional 7,608 shares during the period. 14.53% of the stock is 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.