Banco Santander Brasil SA (BSBR) Rating Increased to Strong-Buy at Zacks Investment Research

Banco Santander Brasil SA (NYSE:BSBR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, October 16th. The firm presently has a $11.00 target price on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 19.83% from the stock’s current price.

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. “

Other equities research analysts have also issued research reports about the stock. BidaskClub raised shares of Banco Santander Brasil SA from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Citigroup Inc. raised shares of Banco Santander Brasil SA from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 4th. Finally, ValuEngine raised shares of Banco Santander Brasil SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Banco Santander Brasil SA presently has a consensus rating of “Buy” and a consensus price target of $13.88.

Shares of Banco Santander Brasil SA (NYSE BSBR) traded up 2.11% on Monday, hitting $9.18. The stock had a trading volume of 1,853,712 shares. Banco Santander Brasil SA has a 12-month low of $6.86 and a 12-month high of $11.75. The company has a market cap of $34.44 billion, a price-to-earnings ratio of 13.91 and a beta of 1.56. The stock has a 50 day moving average price of $9.16 and a 200-day moving average price of $8.40.

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Several large investors have recently bought and sold shares of BSBR. Wells Fargo & Company MN increased its holdings in shares of Banco Santander Brasil SA by 168.8% during the 1st quarter. Wells Fargo & Company MN now owns 98,044 shares of the bank’s stock worth $864,000 after purchasing an additional 61,565 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Banco Santander Brasil SA by 20.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 201,563 shares of the bank’s stock worth $1,778,000 after purchasing an additional 34,809 shares during the period. Wellington Management Group LLP increased its holdings in shares of Banco Santander Brasil SA by 292.5% during the 1st quarter. Wellington Management Group LLP now owns 247,338 shares of the bank’s stock worth $2,182,000 after purchasing an additional 184,329 shares during the period. Vanguard Group Inc. increased its holdings in shares of Banco Santander Brasil SA by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 5,411,354 shares of the bank’s stock worth $47,728,000 after purchasing an additional 521,752 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Banco Santander Brasil SA by 216.4% during the 1st quarter. Morgan Stanley now owns 1,818,873 shares of the bank’s stock worth $16,042,000 after purchasing an additional 1,244,015 shares during the period. Institutional investors own 1.66% of the company’s stock.

Banco Santander Brasil SA Company Profile

Banco Santander (Brasil) SA (the Bank) is indirectly controlled by Banco Santander, SA, and is an institution of the Financial and Prudential Group. The Bank operates through two segments, Commercial Banking and Global Wholesale Banking. The Company conducts its operations by means of portfolios such as commercial, investment, lending and financing, mortgage lending, leasing, credit card operations and foreign exchange.

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Analyst Recommendations for Banco Santander Brasil SA (NYSE:BSBR)

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