Banco Santander Brasil SA (NYSE:BSBR) Announces $0.11 Special Dividend

Banco Santander Brasil SA (NYSE:BSBR) announced a special dividend on Monday, April 13th. Investors of record on Thursday, April 23rd will be paid a dividend of 0.1064 per share by the bank on Monday, May 18th. The ex-dividend date is Thursday, April 23rd.

Banco Santander Brasil has decreased its dividend by an average of 0.2%per year over the last three years. Banco Santander Brasil has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Santander Brasil to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 36.6%.

Banco Santander Brasil Stock Down 1.0%

NYSE:BSBR traded down $0.07 during trading hours on Wednesday, reaching $6.39. 649,693 shares of the company’s stock were exchanged, compared to its average volume of 1,015,271. Banco Santander Brasil has a 12 month low of $4.60 and a 12 month high of $7.32. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.15. The business’s 50-day simple moving average is $6.26 and its two-hundred day simple moving average is $6.11.

Insider Buying and Selling

In related news, insider Rafael Abujamra Kappaz sold 31,285 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $5.76, for a total value of $180,201.60. Following the completion of the transaction, the insider owned 35,049 shares of the company’s stock, valued at approximately $201,882.24. This trade represents a 47.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Banco Santander Brasil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Banco Santander Brasil in the 4th quarter worth approximately $36,000. Alpine Global Management LLC purchased a new stake in Banco Santander Brasil in the 4th quarter worth approximately $4,735,000. Invesco Ltd. lifted its position in Banco Santander Brasil by 1.1% in the 4th quarter. Invesco Ltd. now owns 232,826 shares of the bank’s stock worth $1,423,000 after buying an additional 2,631 shares in the last quarter. Vident Advisory LLC lifted its position in Banco Santander Brasil by 185.7% in the 4th quarter. Vident Advisory LLC now owns 31,805 shares of the bank’s stock worth $194,000 after buying an additional 20,672 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Banco Santander Brasil in the 4th quarter worth approximately $9,772,000. Institutional investors and hedge funds own 14.53% of the company’s stock.

About Banco Santander Brasil

Banco Santander Brasil SA is the Brazilian unit of Spain-based Grupo Santander and one of the country’s major commercial banks. Headquartered in São Paulo, the bank serves a broad client base across Brazil through an integrated network of branches, ATMs and digital channels. Its shares are represented abroad via American Depositary Shares listed on the New York Stock Exchange under the ticker BSBR.

The bank offers a full range of financial products and services for retail, small and medium-sized enterprises, and corporate clients.