Banco Santander Brasil (NYSE:BSBR) Shares Break Above 200-Day Moving Average – Time to Sell?

Banco Santander Brasil SA (NYSE:BSBR)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $5.65 and traded as high as $5.67. Banco Santander Brasil shares last traded at $5.6150, with a volume of 2,132,851 shares traded.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BSBR. Weiss Ratings upgraded Banco Santander Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. downgraded Banco Santander Brasil from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $6.50 to $6.00 in a research note on Thursday, July 30th. UBS Group lowered Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, August 24th. Zacks Research raised Banco Santander Brasil from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, HSBC reiterated a “hold” rating and issued a $6.20 target price (down from $7.20) on shares of Banco Santander Brasil in a report on Tuesday, September 15th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.10.

Banco Santander Brasil Stock Down 3.1%

The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 3.34. The company has a fifty day moving average of $5.76 and a 200-day moving average of $5.64.

Banco Santander Brasil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, October 22nd will be issued a dividend of $0.0804 per share. The ex-dividend date is Thursday, October 22nd. This represents a $0.32 annualized dividend and a dividend yield of 5.9%. This is a negative change from Banco Santander Brasil’s previous quarterly dividend of $0.1045.

Insiders Place Their Bets

In related news, insider Rudolf Gschliffner sold 11,507 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $5.73, for a total value of $65,935.11. Following the transaction, the insider owned 33,192 shares in the company, valued at approximately $190,190.16. This represents a 25.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Cezar Augusto Janikian sold 6,600 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $5.72, for a total value of $37,752.00. Following the completion of the transaction, the vice president owned 47,007 shares in the company, valued at $268,880.04. This represents a 12.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,438 shares of company stock worth $1,338,299 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Banco Santander Brasil

Several large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP raised its holdings in shares of Banco Santander Brasil by 765.6% during the 2nd quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock valued at $731,000 after purchasing an additional 123,100 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Banco Santander Brasil in the 2nd quarter valued at $476,000. Dimensional Fund Advisors LP boosted its holdings in Banco Santander Brasil by 43.5% in the first quarter. Dimensional Fund Advisors LP now owns 221,909 shares of the bank’s stock worth $1,316,000 after purchasing an additional 67,224 shares in the last quarter. SPX Gestao de Recursos Ltda increased its position in Banco Santander Brasil by 58.9% during the first quarter. SPX Gestao de Recursos Ltda now owns 86,883 shares of the bank’s stock worth $515,000 after buying an additional 32,189 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Banco Santander Brasil during the second quarter worth $57,000. 14.53% of the stock is owned by institutional investors.

About Banco Santander Brasil

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. It provides banking and financial services to individuals, small and midsize businesses, corporate clients and institutional customers throughout Brazil.

The company’s offerings include checking and savings accounts, consumer and commercial loans, credit and debit cards, mortgages, payroll lending, insurance, investment products, foreign-exchange services, cash management and payment solutions.