Banco Santander (Brasil) (NYSE:BSBR) Raised to “Buy” at Bank of America

Bank of America upgraded shares of Banco Santander (Brasil) (NYSE:BSBR) from a neutral rating to a buy rating in a research note published on Monday, Marketbeat.com reports.

Banco Santander (Brasil) Trading Down 2.1 %

Shares of NYSE BSBR opened at $5.70 on Monday. The company has a 50 day simple moving average of $5.57 and a 200 day simple moving average of $5.88. Banco Santander has a 1 year low of $4.93 and a 1 year high of $6.66. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.17.

Banco Santander (Brasil) Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 23rd will be given a dividend of $0.0792 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Monday, April 22nd. This is an increase from Banco Santander (Brasil)’s previous quarterly dividend of $0.06.

Institutional Trading of Banco Santander (Brasil)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Banco Santander (Brasil) by 8.5% during the 3rd quarter. Signaturefd LLC now owns 23,560 shares of the bank’s stock worth $121,000 after buying an additional 1,852 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Banco Santander (Brasil) by 15.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,721 shares of the bank’s stock worth $214,000 after buying an additional 4,359 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Banco Santander (Brasil) during the 3rd quarter worth approximately $52,000. Advisor Partners II LLC grew its position in shares of Banco Santander (Brasil) by 30.5% during the 3rd quarter. Advisor Partners II LLC now owns 19,367 shares of the bank’s stock worth $99,000 after buying an additional 4,526 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Banco Santander (Brasil) during the 3rd quarter worth approximately $234,000. Institutional investors and hedge funds own 14.53% of the company’s stock.

About Banco Santander (Brasil)

Banco Santander (Brasil) SA, together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates through Commercial Banking and Global Wholesale Banking segments. It offers local loans, commercial financing options, development bank funds, and cash management services; export and import financing, guarantees, structuring of asset services.