Banco Santander (Brasil) (NYSE:BSBR) Cut to "Neutral" at Bank of America

Bank of America cut shares of Banco Santander (Brasil) (NYSE:BSBR - Free Report) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat.com reports.

Several other analysts have also recently weighed in on BSBR. JPMorgan Chase & Co. upgraded shares of Banco Santander (Brasil) from a "neutral" rating to an "overweight" rating and cut their target price for the company from $7.00 to $6.00 in a research report on Monday, November 25th. StockNews.com cut Banco Santander (Brasil) from a "buy" rating to a "hold" rating in a research report on Tuesday, November 26th.

Banco Santander (Brasil) Stock Up 1.4 %

Shares of BSBR traded up $0.06 during trading hours on Tuesday, hitting $4.25. The stock had a trading volume of 471,567 shares, compared to its average volume of 452,785. Banco Santander has a 52 week low of $4.05 and a 52 week high of $6.66. The company's fifty day moving average is $4.75 and its two-hundred day moving average is $5.10. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25.

Banco Santander (Brasil) Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Monday, October 21st were issued a dividend of $0.0714 per share. This represents a $0.29 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date was Monday, October 21st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BSBR. GAMMA Investing LLC grew its position in Banco Santander (Brasil) by 183.6% during the third quarter. GAMMA Investing LLC now owns 9,751 shares of the bank's stock valued at $51,000 after acquiring an additional 6,313 shares during the last quarter. Barclays PLC lifted its stake in Banco Santander (Brasil) by 221.4% in the third quarter. Barclays PLC now owns 12,428 shares of the bank's stock worth $65,000 after purchasing an additional 8,561 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Banco Santander (Brasil) by 41.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the bank's stock valued at $71,000 after buying an additional 4,387 shares during the period. Walleye Capital LLC bought a new position in shares of Banco Santander (Brasil) during the third quarter valued at about $85,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Banco Santander (Brasil) by 68.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,741 shares of the bank's stock worth $99,000 after buying an additional 7,608 shares during the period. Institutional investors own 14.53% of the company's stock.

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.