Zacks Investment Research Lowers Banco Santander Brasil (NYSE:BSBR) to Hold

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Zacks Investment Research cut shares of Banco Santander Brasil (NYSE:BSBR) from a buy rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “Banco Santander, S.A. is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company’s commercial model satisfies the needs of all types of customers: individuals with various income levels. “

Separately, Goldman Sachs Group cut SUMCO CORP/ADR from a buy rating to a neutral rating in a report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, Banco Santander Brasil has an average rating of Hold and a consensus price target of $12.50.

NYSE:BSBR traded down $0.03 on Monday, reaching $12.36. 24,260 shares of the company’s stock traded hands, compared to its average volume of 901,724. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50-day moving average is $11.58. The stock has a market capitalization of $46.49 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.23 and a beta of 0.80. Banco Santander Brasil has a 12 month low of $7.61 and a 12 month high of $13.73.

Banco Santander Brasil (NYSE:BSBR) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The business had revenue of $4.02 billion for the quarter. Banco Santander Brasil had a return on equity of 14.54% and a net margin of 14.82%. As a group, sell-side analysts expect that Banco Santander Brasil will post 0.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.059 per share. This is a positive change from Banco Santander Brasil’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.91%. Banco Santander Brasil’s dividend payout ratio (DPR) is presently 26.67%.

Several institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. purchased a new position in shares of Banco Santander Brasil during the first quarter valued at about $1,280,000. Advisors Asset Management Inc. purchased a new position in shares of Banco Santander Brasil during the first quarter valued at about $185,000. NumerixS Investment Technologies Inc grew its position in shares of Banco Santander Brasil by 61.1% during the first quarter. NumerixS Investment Technologies Inc now owns 23,200 shares of the bank’s stock valued at $258,000 after purchasing an additional 8,800 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Banco Santander Brasil during the first quarter valued at about $938,000. Finally, NS Partners Ltd purchased a new position in shares of Banco Santander Brasil during the first quarter valued at about $674,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA provides commercial banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. It operates through two segments, Commercial Banking and Global Wholesale Banking. The company offers checking and savings accounts; priority services, such as withdrawals, debit cards, deposits, and transfers; onshore and offshore financial products and services, investment advice, and asset management services; consumer credit for purchasing motor vehicles, and other goods and services; local loans, commercial finance, trade finance, guarantees, structured loans, and cash management and funding solutions, as well as Banco Nacional de Desenvolvimento Econômico e Social on-lending transfer services; payroll, mortgage, and agribusiness loans, as well as microcredit; investment products; and credit cards and foreign exchange services.

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