Banco Santander Brasil SA (NYSE:BSBR) Shares Shorted: Short Interest Up 79.4% in September

Banco Santander Brasil SA (NYSE:BSBR) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 7,921,853 shares, a growth of 79.4% from the August 31st total of 4,416,949 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 5,068,939 shares, the short-interest ratio is currently 1.6 days.

Analyst Ratings Changes

Several brokerages have issued reports on BSBR. JPMorgan Chase & Co. lowered shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $6.50 to $6.00 in a report on Thursday, July 30th. HSBC restated a “hold” rating and set a $6.20 price target (down from $7.20) on shares of Banco Santander Brasil in a research note on Tuesday, September 15th. Zacks Research downgraded Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. UBS Group lowered Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, August 24th. Finally, Weiss Ratings raised Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $6.10.

Banco Santander Brasil Stock Down 0.4%

Shares of Banco Santander Brasil stock traded down $0.03 during mid-day trading on Tuesday, reaching $5.68. 3,065,574 shares of the stock were exchanged, compared to its average volume of 1,939,198. Banco Santander Brasil has a fifty-two week low of $4.94 and a fifty-two week high of $7.32. The firm has a 50-day simple moving average of $5.72 and a 200 day simple moving average of $5.66. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 3.34.

Banco Santander Brasil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, July 30th were given a $0.1045 dividend. The ex-dividend date was Thursday, July 30th. This represents a $0.42 annualized dividend and a yield of 7.4%.

Insiders Place Their Bets

In related news, insider Rudolf Gschliffner sold 11,507 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $5.73, for a total value of $65,935.11. Following the completion of the sale, the insider owned 33,192 shares in the company, valued at approximately $190,190.16. This trade represents a 25.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Celso Mateus De Queiroz sold 29,299 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $5.78, for a total value of $169,348.22. Following the completion of the sale, the insider owned 23,838 shares of the company’s stock, valued at $137,783.64. This represents a 55.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 233,438 shares of company stock valued at $1,338,299 in the last quarter. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Banco Santander Brasil

A number of hedge funds have recently added to or reduced their stakes in BSBR. QRG Capital Management Inc. bought a new stake in shares of Banco Santander Brasil in the second quarter valued at about $57,000. Engineers Gate Manager LP grew its holdings in shares of Banco Santander Brasil by 765.6% during the second quarter. Engineers Gate Manager LP now owns 139,178 shares of the bank’s stock worth $731,000 after buying an additional 123,100 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Banco Santander Brasil in the 2nd quarter valued at approximately $476,000. EverSource Wealth Advisors LLC lifted its stake in Banco Santander Brasil by 251.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock valued at $34,000 after acquiring an additional 4,153 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Banco Santander Brasil by 41.6% in the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock valued at $43,000 after acquiring an additional 2,098 shares in the last quarter. Institutional investors own 14.53% of the company’s stock.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the bank serves individuals, small and midsize businesses, corporations, and institutional clients throughout Brazil.

The company provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, credit and debit cards, mortgages, payment solutions, and digital banking. Its broader platform also includes corporate and investment banking, private banking, asset management, insurance, and other financial services.

Santander Brasil’s operations were built in part through the expansion of Banco Santander in Brazil and the acquisition of Banco do Estado de São Paulo (Banespa) in 2000.