BANCO SANTANDER (BRASIL) S.A.
In the published model solve dated 2026-Q2, anchored at $5.33, BANCO SANTANDER (BRASIL) S.A. (BSBR) is priced for today's economics sustained for ~33.0 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• One number decides this case: the bank's return on equity is running about 10.2%, only a shade above what an owner could earn elsewhere, and that shade is the whole basis for any premium over book value. • Provisioning is climbing faster than the loan book, with the allowance against total loans rising from 5.9% at the end of 2024 to 6.8% at the end of 2025 while loans outstanding grew 0.4%. • Brazil's presidential election in October 2026 is the dated risk the company itself flags against its
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87 institutional managers reported holding BSBR in 13F filings for the quarter ended 2026-03-31. Together they hold about 7% of the company; the top 10 hold 7%. 16 opened new positions that quarter. Held by Vanguard Group, Arrowstreet Capital, Goldman Sachs, among others. On the short side, 6.3M shares were sold short as of the 2026-06-15 count, about 0.1% of shares outstanding (4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
It pays a dividend, and has for 4 years running. Cash returned over the past three years: $3.44B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at BSBR over the trailing three years: 2026: 4 buys totaling $2.85M. 51 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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