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

Zacks Investment Research cut shares of Banco Santander Brasil (NYSE:BSBR) from a buy rating to a hold rating in a report issued on Tuesday 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. “

A number of other equities analysts also recently weighed in on the company. ValuEngine downgraded Banco Santander Brasil from a buy rating to a hold rating in a research note on Friday, March 1st. Goldman Sachs Group started coverage on Banco Santander Brasil in a research note on Monday. They issued a neutral rating and a $12.00 target price on the stock. Six analysts have rated the stock with a hold rating, The stock has an average rating of Hold and a consensus target price of $12.50.

BSBR stock opened at $11.54 on Tuesday. The stock has a market cap of $43.30 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.93. Banco Santander Brasil has a 52-week low of $7.20 and a 52-week high of $13.73.

Banco Santander Brasil (NYSE:BSBR) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $4.02 billion during the quarter. Banco Santander Brasil had a return on equity of 14.54% and a net margin of 14.82%. On average, analysts forecast that Banco Santander Brasil will post 0.97 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. bought a new stake in shares of Banco Santander Brasil in the 1st quarter worth approximately $1,280,000. Jane Street Group LLC bought a new stake in shares of Banco Santander Brasil in the 1st quarter worth approximately $1,829,000. Morgan Stanley raised its holdings in shares of Banco Santander Brasil by 332.6% in the 1st quarter. Morgan Stanley now owns 692,927 shares of the bank’s stock worth $7,781,000 after purchasing an additional 532,732 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Banco Santander Brasil by 0.3% in the 1st quarter. Macquarie Group Ltd. now owns 4,670,466 shares of the bank’s stock worth $52,449,000 after purchasing an additional 14,000 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in shares of Banco Santander Brasil in the 1st quarter worth approximately $185,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

About Banco Santander Brasil

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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