Banco Santander (Brasil) (NYSE:BSBR) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat Ratings reports.

Banco Santander (Brasil) Price Performance

Shares of NYSE:BSBR opened at $5.70 on Monday. Banco Santander has a 1-year low of $4.93 and a 1-year high of $6.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.26 and a current ratio of 0.26. The business has a fifty day moving average price of $5.57 and a 200-day moving average price of $5.88.

Banco Santander (Brasil) Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 23rd will be issued a dividend of $0.0792 per share. The ex-dividend date is Monday, April 22nd. This is an increase from Banco Santander (Brasil)’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 5.56%.

Hedge Funds Weigh In On Banco Santander (Brasil)

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in shares of Banco Santander (Brasil) by 220.0% during the first quarter. BNP Paribas Financial Markets now owns 7,095 shares of the bank’s stock valued at $41,000 after acquiring an additional 4,878 shares in the last quarter. Ballentine Partners LLC increased its holdings in Banco Santander (Brasil) by 24.3% in the 1st quarter. Ballentine Partners LLC now owns 16,137 shares of the bank’s stock worth $92,000 after buying an additional 3,156 shares in the last quarter. Wellington Management Group LLP bought a new stake in Banco Santander (Brasil) in the 4th quarter worth about $5,064,000. Vinland Capital Management Gestora de Recursos LTDA. bought a new stake in Banco Santander (Brasil) in the 4th quarter worth about $655,000. Finally, SPX Gestao de Recursos Ltda increased its holdings in Banco Santander (Brasil) by 570.9% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 715,921 shares of the bank’s stock worth $4,689,000 after buying an additional 609,216 shares in the last quarter. 14.53% of the stock is currently owned by 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.