Banco Santander (Brasil) (NYSE:BSBR) Upgraded to "Neutral" at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Banco Santander (Brasil) (NYSE:BSBR - Free Report) from a sell rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat reports. The Goldman Sachs Group currently has $4.70 price objective on the bank's stock, up from their prior price objective of $4.20.

BSBR has been the subject of several other research reports. Bank of America lowered shares of Banco Santander (Brasil) from a "buy" rating to a "neutral" rating in a research note on Tuesday, December 10th. StockNews.com downgraded shares of Banco Santander (Brasil) from a "buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. raised shares of Banco Santander (Brasil) from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $7.00 to $6.00 in a research report on Monday, November 25th.

Banco Santander (Brasil) Stock Up 5.5 %

NYSE:BSBR traded up $0.25 during mid-day trading on Wednesday, hitting $4.74. 807,404 shares of the company's stock were exchanged, compared to its average volume of 693,814. The company has a 50 day simple moving average of $4.19 and a 200-day simple moving average of $4.78. 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 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. Stockholders 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 dividend yield of 5.57%. The ex-dividend date is Friday, January 24th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in Banco Santander (Brasil) in the fourth quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in shares of 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 in the last quarter. EntryPoint Capital LLC bought a new position in shares of Banco Santander (Brasil) during the fourth quarter valued at approximately $47,000. Barclays PLC raised its holdings in shares of Banco Santander (Brasil) by 221.4% during the third quarter. Barclays PLC now owns 12,428 shares of the bank's stock valued at $65,000 after acquiring an additional 8,561 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in Banco Santander (Brasil) in the third quarter worth $85,000. 14.53% of the stock is currently owned by institutional investors.

Banco Santander (Brasil) Company Profile

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.