Banco Santander (Brasil) (NYSE:BSBR) Upgraded by The Goldman Sachs Group to Neutral Rating

The Goldman Sachs Group upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a sell rating to a neutral rating in a report published on Wednesday morning, MarketBeat reports. The Goldman Sachs Group currently has $4.70 price objective on the bank’s stock, up from their previous price objective of $4.20.

Several other brokerages have also recently issued reports on BSBR. Bank of America cut Banco Santander (Brasil) from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. StockNews.com cut Banco Santander (Brasil) from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upgraded Banco Santander (Brasil) from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $7.00 to $6.00 in a research note on Monday, November 25th.

Banco Santander (Brasil) Stock Performance

Shares of NYSE BSBR opened at $4.59 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50-day simple moving average of $4.17 and a two-hundred day simple moving average of $4.79. Banco Santander has a fifty-two week low of $3.75 and a fifty-two week high of $6.01.

Banco Santander (Brasil) Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Friday, January 24th will be given a dividend of $0.066 per share. This represents a $0.26 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend is Friday, January 24th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in Banco Santander (Brasil) by 2.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,931,201 shares of the bank’s stock valued at $7,551,000 after acquiring an additional 51,542 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Banco Santander (Brasil) by 290.9% in the fourth quarter. JPMorgan Chase & Co. now owns 118,916 shares of the bank’s stock valued at $465,000 after purchasing an additional 88,497 shares during the period. EntryPoint Capital LLC acquired a new stake in Banco Santander (Brasil) in the fourth quarter valued at approximately $47,000. LPL Financial LLC acquired a new stake in Banco Santander (Brasil) in the fourth quarter valued at approximately $70,000. Finally, American Century Companies Inc. grew its holdings in Banco Santander (Brasil) by 10.8% in the fourth quarter. American Century Companies Inc. now owns 548,931 shares of the bank’s stock valued at $2,146,000 after purchasing an additional 53,542 shares during the period. 14.53% of the stock is currently owned by hedge funds and other 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.