Banco Santander Brasil SA (NYSE:BSBR) Declares Quarterly Dividend of $0.08

Banco Santander Brasil SA (NYSE:BSBR) declared a quarterly dividend on Monday, October 12th. Stockholders of record on Thursday, October 22nd will be given a dividend of $0.0804 per share by the bank on Thursday, November 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, October 22nd. This is a 23.1% decrease from Banco Santander Brasil’s previous quarterly dividend of $0.1045.

Banco Santander Brasil has decreased its dividend payment by an average of 0.2% per year over the last three years. Banco Santander Brasil has a dividend payout ratio of 32.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banco Santander Brasil to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.27 annual dividend with an expected future payout ratio of 31.0%.

Banco Santander Brasil Trading Down 0.3%

Shares of NYSE BSBR traded down $0.02 during midday trading on Tuesday, hitting $5.75. The stock had a trading volume of 3,949,449 shares, compared to its average volume of 2,109,296. Banco Santander Brasil has a 1-year low of $4.94 and a 1-year high of $7.32. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. The company has a fifty day moving average price of $5.78 and a 200 day moving average price of $5.65.

Analysts Set New Price Targets

Several research firms have issued reports on BSBR. Zacks Research downgraded shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Wall Street Zen downgraded shares of Banco Santander Brasil from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. JPMorgan Chase & Co. lowered shares of Banco Santander Brasil from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $6.50 to $6.00 in a report 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. Finally, Weiss Ratings upgraded Banco Santander Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $6.10.

About Banco Santander Brasil

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.