JPMorgan Chase & Co. Upgrades Banco Santander (Brasil) (NYSE:BSBR) to Overweight

Market Beat
2024.11.25 13:13
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JPMorgan Chase & Co. has upgraded Banco Santander (Brasil) from a "neutral" to an "overweight" rating, while lowering its price target from $X.00 to $Y.00. The new target suggests a potential upside of 32.45% from the previous close. Additionally, StockNews.com has raised its rating from "hold" to "buy". Recent institutional investments have seen significant increases in stakes in Banco Santander (Brasil).

Banco Santander (Brasil) (NYSE:BSBR - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has a $6.00 price objective on the bank's stock, down from their previous price objective of $7.00. JPMorgan Chase & Co.'s target price would indicate a potential upside of 32.45% from the company's previous close.

Separately, StockNews.com raised shares of Banco Santander (Brasil) from a "hold" rating to a "buy" rating in a report on Monday, November 18th.

View Our Latest Analysis on Banco Santander (Brasil)

Banco Santander (Brasil) Stock Performance

BSBR opened at $4.53 on Monday. The firm has a 50-day moving average of $4.99 and a 200 day moving average of $5.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. Banco Santander has a fifty-two week low of $4.32 and a fifty-two week high of $6.66.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of Banco Santander (Brasil) by 220.0% during the 1st quarter. BNP Paribas Financial Markets now owns 7,095 shares of the bank's stock valued at $41,000 after purchasing an additional 4,878 shares during the last quarter. GAMMA Investing LLC raised its stake in Banco Santander (Brasil) by 183.6% in the third quarter. GAMMA Investing LLC now owns 9,751 shares of the bank's stock valued at $51,000 after buying an additional 6,313 shares during the last quarter. Barclays PLC raised its stake in shares of Banco Santander (Brasil) by 221.4% in the third quarter. Barclays PLC now owns 12,428 shares of the bank's stock worth $65,000 after purchasing an additional 8,561 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Banco Santander (Brasil) by 41.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the bank's stock worth $71,000 after purchasing an additional 4,387 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in Banco Santander (Brasil) during the third quarter worth about $85,000. 14.53% of the stock is owned by hedge funds and other institutional investors.

About Banco Santander (Brasil)

(Get Free Report)

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.

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