Trade Report: The Zacks Investment Research Upgraded Banco Santander Brasil SA (BSBR) to Buy

The Zacks Investment Research Upgraded Banco Santander Brasil SA (BSBR) to Buy

Zacks Investment Research upgraded shares of Banco Santander Brasil SA (NYSE:BSBR) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $9.50 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. UBS AG reissued a neutral rating on shares of Banco Santander Brasil SA in a research note on Thursday, September 8th. JPMorgan Chase & Co. reissued a neutral rating on shares of Banco Santander Brasil SA in a research note on Friday, August 5th. Credit Suisse Group AG raised shares of Banco Santander Brasil SA from an underperform rating to a neutral rating in a research note on Monday, October 17th. Finally, Goldman Sachs Group Inc. downgraded shares of Banco Santander Brasil SA from a neutral rating to a sell rating and set a $8.10 price objective on the stock. in a research note on Friday, September 23rd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $6.50.

Shares of Banco Santander Brasil SA (NYSE:BSBR) opened at 8.20 on Tuesday. The stock has a market capitalization of $30.82 billion and a PE ratio of 14.14. Banco Santander Brasil SA has a 52-week low of $3.02 and a 52-week high of $8.77. The stock’s 50 day moving average is $7.79 and its 200 day moving average is $6.47.

A number of institutional investors have recently modified their holdings of BSBR. Checchi Capital Advisers LLC raised its position in shares of Banco Santander Brasil SA by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 19,585 shares of the company’s stock valued at $112,000 after buying an additional 384 shares during the period. Two Sigma Advisers LP bought a new position in shares of Banco Santander Brasil SA during the third quarter valued at approximately $123,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Banco Santander Brasil SA by 36.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 31,646 shares of the company’s stock valued at $180,000 after buying an additional 8,400 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Banco Santander Brasil SA during the third quarter valued at approximately $181,000. Finally, Quantbot Technologies LP bought a new position in shares of Banco Santander Brasil SA during the third quarter valued at approximately $191,000.

About Banco Santander Brasil SA

Banco Santander (Brasil) SA (Santander Brasil) is indirectly controlled by Banco Santander, SA, and is an institution of the financial and non-financial group. The Bank operates as a multiple bank. The Bank operates through two segments: Commercial Banking and Global Wholesale Banking. The Commercial Banking segment encompasses the entire commercial banking business (except for the Corporate Banking business managed globally using the Global Relationship Model).

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