Banco Santander Brasil (BSBR) Cut to Hold at Zacks Investment Research

Banco Santander Brasil (NYSE:BSBR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

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. “

Several other equities analysts also recently commented on BSBR. BidaskClub upgraded Banco Santander Brasil from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. ValuEngine downgraded Banco Santander Brasil from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Finally, JPMorgan Chase & Co. upgraded Banco Santander Brasil from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, November 1st. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.00.

Banco Santander Brasil (NYSE:BSBR) opened at $11.18 on Monday. Banco Santander Brasil has a 52-week low of $6.86 and a 52-week high of $11.75. The company has a market capitalization of $42,300.00, a PE ratio of 17.20, a PEG ratio of 1.01 and a beta of 1.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90.

Several hedge funds have recently modified their holdings of BSBR. Wright Investors Service Inc. bought a new stake in shares of Banco Santander Brasil in the third quarter worth about $106,000. Advisor Group Inc. increased its holdings in shares of Banco Santander Brasil by 5.8% in the second quarter. Advisor Group Inc. now owns 21,268 shares of the bank’s stock worth $120,000 after purchasing an additional 1,166 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Banco Santander Brasil by 3.7% in the second quarter. Citigroup Inc. now owns 15,961 shares of the bank’s stock worth $120,000 after purchasing an additional 566 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Banco Santander Brasil in the second quarter worth about $171,000. Finally, Stifel Financial Corp increased its holdings in shares of Banco Santander Brasil by 153.9% in the second quarter. Stifel Financial Corp now owns 26,348 shares of the bank’s stock worth $198,000 after purchasing an additional 15,969 shares during the last quarter. 1.56% of the stock is currently owned by hedge funds and other institutional investors.

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About Banco Santander Brasil

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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