Banco Santander Brasil (NYSE:BSBR) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Banco Santander Brasil (NYSE:BSBR) from a hold rating to a sell 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. “

BSBR has been the topic of several other reports. Citigroup raised Banco Santander Brasil from a neutral rating to a buy rating in a research note on Tuesday, August 27th. Morgan Stanley raised Banco Santander Brasil from an equal rating to a weight rating in a research note on Wednesday, August 7th. ValuEngine lowered Banco Santander Brasil from a sell rating to a strong sell rating in a research note on Wednesday, September 4th. Finally, Goldman Sachs Group started coverage on Banco Santander Brasil in a research note on Monday, June 10th. They issued a neutral rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $12.50.

Shares of BSBR opened at $10.77 on Tuesday. Banco Santander Brasil has a 52-week low of $8.65 and a 52-week high of $13.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.14 and a current ratio of 0.14. The business’s 50 day moving average price is $10.56 and its two-hundred day moving average price is $11.30. The firm has a market cap of $39.47 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.22 and a beta of 0.82.

Banco Santander Brasil (NYSE:BSBR) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. Banco Santander Brasil had a return on equity of 14.88% and a net margin of 15.45%. The firm had revenue of $4.08 billion for the quarter. Research analysts predict that Banco Santander Brasil will post 0.96 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Banco Santander Brasil during the second quarter worth approximately $43,000. Tower Research Capital LLC TRC acquired a new position in shares of Banco Santander Brasil during the second quarter worth approximately $104,000. BNP Paribas Arbitrage SA raised its position in shares of Banco Santander Brasil by 21.8% during the first quarter. BNP Paribas Arbitrage SA now owns 11,703 shares of the bank’s stock worth $131,000 after purchasing an additional 2,096 shares during the period. Quantamental Technologies LLC raised its position in shares of Banco Santander Brasil by 559.1% during the second quarter. Quantamental Technologies LLC now owns 15,159 shares of the bank’s stock worth $180,000 after purchasing an additional 12,859 shares during the period. Finally, Advisors Asset Management Inc. acquired a new position in shares of Banco Santander Brasil during the first quarter worth approximately $185,000. 1.07% of the stock is currently owned by institutional investors.

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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