Banco Santander Brasil (NYSE:BSBR) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Banco Santander Brasil (NYSE:BSBR) from a buy rating to a hold rating in a report released on Wednesday, 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. “

BSBR has been the topic of several other research reports. ValuEngine cut shares of Banco Santander Brasil from a sell rating to a strong sell rating in a research report on Wednesday, September 4th. Citigroup upgraded shares of Banco Santander Brasil from a neutral rating to a buy rating in a research note on Tuesday, August 27th. Morgan Stanley upgraded shares of Banco Santander Brasil from an equal rating to a weight rating in a research note on Wednesday, August 7th. Finally, Goldman Sachs Group began coverage on shares of Banco Santander Brasil in a research note on Monday, June 10th. They set a neutral rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $12.50.

NYSE:BSBR opened at $11.01 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a 50-day moving average of $10.73 and a two-hundred day moving average of $11.38. The stock has a market cap of $40.74 billion, a P/E ratio of 12.23, a PEG ratio of 1.26 and a beta of 0.82. Banco Santander Brasil has a 1-year low of $7.92 and a 1-year high of $13.73.

Banco Santander Brasil (NYSE:BSBR) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. Banco Santander Brasil had a net margin of 15.45% and a return on equity of 14.88%. The company had revenue of $4.08 billion during the quarter. As a group, equities analysts expect that Banco Santander Brasil will post 0.96 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of BSBR. Bank of America Corp DE boosted its holdings in Banco Santander Brasil by 419.2% during the second quarter. Bank of America Corp DE now owns 898,421 shares of the bank’s stock worth $10,663,000 after buying an additional 725,377 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Banco Santander Brasil by 26.5% during the second quarter. Renaissance Technologies LLC now owns 3,382,500 shares of the bank’s stock worth $40,150,000 after buying an additional 709,000 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Banco Santander Brasil during the second quarter worth approximately $3,252,000. Provida Pension Fund Administrator bought a new stake in Banco Santander Brasil during the second quarter worth approximately $1,407,000. Finally, Marshall Wace North America L.P. bought a new stake in Banco Santander Brasil during the first quarter worth approximately $1,280,000. Institutional investors and hedge funds own 1.07% 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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