Banco Santander Brasil (BSBR) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Banco Santander Brasil (NYSE:BSBR) from a hold rating to a sell rating in a research note released on Thursday morning.

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. “

Several other brokerages have also issued reports on BSBR. Morgan Stanley upgraded Banco Santander Brasil from an underweight rating to an equal weight rating in a research note on Friday, November 9th. ValuEngine upgraded Banco Santander Brasil from a hold rating to a buy rating in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Banco Santander Brasil has an average rating of Hold and an average price target of $12.00.

Shares of BSBR opened at $11.09 on Thursday. Banco Santander Brasil has a 52-week low of $7.20 and a 52-week high of $12.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market capitalization of $41.58 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96.

The firm also recently declared a special dividend, which was paid on Friday, November 2nd. Stockholders of record on Thursday, October 11th were paid a $0.04 dividend. The ex-dividend date was Wednesday, October 10th. Banco Santander Brasil’s payout ratio is 19.18%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp bought a new stake in Banco Santander Brasil during the 3rd quarter worth $102,000. Rehmann Capital Advisory Group grew its position in Banco Santander Brasil by 878.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 13,135 shares of the bank’s stock worth $1,491,000 after acquiring an additional 11,792 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Banco Santander Brasil during the 3rd quarter worth $132,000. NumerixS Investment Technologies Inc grew its position in Banco Santander Brasil by 245.8% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 20,400 shares of the bank’s stock worth $152,000 after acquiring an additional 14,500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Banco Santander Brasil during the 3rd quarter worth $272,000. Institutional investors own 1.10% of the company’s stock.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA provides banking products and services in Brazil and internationally. The company operates in two segments, Commercial Banking and Global Wholesale Banking. It offers savings and investment products, annuities, loans and advances, mortgage loans, credit cards, pension plans, and social securities, as well as leasing and foreign exchange services.

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