The Goldman Sachs Group Upgrades Banco Santander (Brasil) (NYSE:BSBR) to “Neutral”

Banco Santander (Brasil) (NYSE:BSBR) was upgraded by stock analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a $4.70 target price on the bank’s stock, up from their previous target price of $4.20. The Goldman Sachs Group’s price objective indicates a potential upside of 4.33% from the company’s previous close.

A number of other research firms also recently weighed in on BSBR. StockNews.com downgraded Banco Santander (Brasil) from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Bank of America downgraded Banco Santander (Brasil) from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upgraded Banco Santander (Brasil) from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $7.00 to $6.00 in a research note on Monday, November 25th.

Banco Santander (Brasil) Stock Down 1.6 %

BSBR stock opened at $4.51 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The business has a 50 day moving average price of $4.18 and a two-hundred day moving average price of $4.78. Banco Santander has a twelve month low of $3.75 and a twelve month high of $6.01.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of Banco Santander (Brasil) by 221.4% during the 3rd quarter. Barclays PLC now owns 12,428 shares of the bank’s stock worth $65,000 after acquiring an additional 8,561 shares during the period. Wellington Management Group LLP boosted its stake in shares of Banco Santander (Brasil) by 49.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,137,946 shares of the bank’s stock worth $5,986,000 after acquiring an additional 375,364 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Banco Santander (Brasil) by 767.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,419 shares of the bank’s stock worth $160,000 after acquiring an additional 26,911 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Banco Santander (Brasil) by 68.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,741 shares of the bank’s stock worth $99,000 after acquiring an additional 7,608 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Banco Santander (Brasil) by 107.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 378,361 shares of the bank’s stock worth $1,990,000 after acquiring an additional 196,141 shares during the period. 14.53% of the stock is currently owned by institutional investors.

Banco Santander (Brasil) Company Profile

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.