Banco Santander Brasil SA (NYSE:BSBR) Raised to “Neutral” at Citigroup Inc.

Banco Santander Brasil SA (NYSE:BSBR) was upgraded by analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, July 4th, StockTargetPrices.com reports.

BSBR has been the topic of several other reports. Credit Suisse Group upgraded shares of Banco Santander Brasil SA from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 18th. Santander upgraded shares of Banco Santander Brasil SA from a “sell” rating to a “neutral” rating in a report on Friday, April 7th. Deutsche Bank AG upgraded shares of Banco Santander Brasil SA from a “sell” rating to a “hold” rating and set a $8.00 target price on the stock in a report on Thursday, April 27th. J P Morgan Chase & Co upgraded shares of Banco Santander Brasil SA from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $7.50 in a report on Friday, May 19th. Finally, ValuEngine upgraded shares of Banco Santander Brasil SA from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.22.

Banco Santander Brasil SA (NYSE BSBR) opened at 8.11 on Tuesday. The firm’s 50-day moving average is $7.78 and its 200 day moving average is $8.93. Banco Santander Brasil SA has a 52-week low of $5.95 and a 52-week high of $11.75. The stock has a market capitalization of $30.49 billion, a PE ratio of 12.71 and a beta of 1.54.

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Several large investors have recently modified their holdings of BSBR. Comerica Bank raised its stake in shares of Banco Santander Brasil SA by 12.7% in the fourth quarter. Comerica Bank now owns 219,359 shares of the bank’s stock worth $2,141,000 after buying an additional 24,728 shares during the last quarter. State Street Corp raised its stake in shares of Banco Santander Brasil SA by 3.8% in the fourth quarter. State Street Corp now owns 1,044,976 shares of the bank’s stock worth $9,288,000 after buying an additional 38,391 shares during the last quarter. Allianz Asset Management AG raised its stake in shares of Banco Santander Brasil SA by 12.2% in the fourth quarter. Allianz Asset Management AG now owns 292,842 shares of the bank’s stock worth $2,603,000 after buying an additional 31,753 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Banco Santander Brasil SA by 2,058.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 37,369 shares of the bank’s stock worth $332,000 after buying an additional 35,638 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Banco Santander Brasil SA by 690.8% in the fourth quarter. AQR Capital Management LLC now owns 1,575,716 shares of the bank’s stock worth $14,008,000 after buying an additional 1,376,466 shares during the last quarter. Institutional investors and hedge funds own 0.88% of the company’s stock.

About Banco Santander Brasil SA

Banco Santander (Brasil) SA (the Bank) is indirectly controlled by Banco Santander, SA, and is an institution of the Financial and Prudential Group. The Bank operates through two segments, Commercial Banking and Global Wholesale Banking. The Company conducts its operations by means of portfolios such as commercial, investment, lending and financing, mortgage lending, leasing, credit card operations and foreign exchange.

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