Banco Santander (Brasil) (NYSE:BSBR) Raised to “Overweight” at JPMorgan Chase & Co.

Banco Santander (Brasil) (NYSE:BSBR) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm presently has a $6.00 price target on the bank’s stock, down from their previous price target of $7.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 30.15% from the stock’s current price.

Separately, StockNews.com upgraded Banco Santander (Brasil) from a “hold” rating to a “buy” rating in a research report on Monday, November 18th.

Banco Santander (Brasil) Stock Performance

BSBR stock opened at $4.61 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $4.95 and its two-hundred day moving average price is $5.17. Banco Santander has a fifty-two week low of $4.32 and a fifty-two week high of $6.66.

Institutional Trading of Banco Santander (Brasil)

A number of hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of Banco Santander (Brasil) by 221.4% during the third quarter. Barclays PLC now owns 12,428 shares of the bank’s stock valued at $65,000 after purchasing an additional 8,561 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Banco Santander (Brasil) during the third quarter valued at about $277,000. Wellington Management Group LLP boosted its stake in shares of Banco Santander (Brasil) by 49.2% during the third quarter. Wellington Management Group LLP now owns 1,137,946 shares of the bank’s stock valued at $5,986,000 after purchasing an additional 375,364 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Banco Santander (Brasil) by 43.7% during the third quarter. Point72 Asset Management L.P. now owns 179,500 shares of the bank’s stock valued at $944,000 after purchasing an additional 54,600 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Banco Santander (Brasil) during the third quarter valued at about $101,000. 14.53% of the stock is owned by institutional investors and hedge funds.

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.