← Portfolio summary

BSBR

Banco Santander (Brasil) S.A.
Brazil Banks
46
RISK / 100
MODERATE
HIGH RISKMODERATELOW RISK
Last close
$5.74
Day chg
-0.3%
Market cap
$42.9B
P/E
~8x
Rev growth
+9%
Div yield
7.5%

12-month price

Indicative · 52-wk rangeEx-div: Oct 23, 2026 (est) · $0.1045
$5.94$4.20

Risk factor breakdown

Valuation
Multiples & price

Fairly valued after run

~8x earningsNear 52-wk high $5.94Rallied off the lows
Rating

Hold · B/S 47/100

PT upside only +5%Price caught up to fundamentalsBRL sensitivity
vs Sector medianThisMedian
P/E8x9x
Div yield7.5%5.5%
ROE~15%~14%
Financial Health
Balance sheet

Well-capitalised

Solid capital ratiosReserve coverage adequateBrazil credit cycle
Profitability

Recovering profitability

ROE ~15%NII growingCost of risk elevated
Growth
Top-line

Rate-driven earnings

Revenue +9% YoYLoan growth modestHigh Selic rate backdrop
Outlook

Income, not growth

~7.5% quarterly-paid yieldUneven payout scheduleBRL / macro swings

Score breakdown

Valuation risk · 35%46
Financial Health risk · 35%44
Growth risk · 30%48
Weighted risk = Valuation 35% · Financial Health 35% · Growth 30% → 46/100
PAGE 2

Quarterly trend

QuarterNet int. income (idx)Net income (idx)QoQ
Q3 259895
Q4 25100100
Q1 26103104
Q2 26106107
Green rows = improving QoQ · red rows = declining. Figures indicative, drawn from reported results & guidance.

Latest earnings / delivery

Steady quarterly delivery

Net interest income and profit continue to grind higher on a high-rate Brazilian backdrop; ROE tracking around 15% with adequate reserve coverage.

Dividend cadence

Quarterly (Feb-May-Aug-Nov) ADR payouts; next ex-date ~Oct 23, 2026 at $0.1045, pay Nov 17. Trailing yield ~7.5%.

Catalysts vs Risks

▲ Catalysts

  • Brazil rate-cut cycle lifting creditHIGH IMPACT
  • Continued ROE recoveryMEDIUM
  • Steady dividend streamMEDIUM

▼ Risks

  • BRL depreciation vs USDHIGH IMPACT
  • Brazilian credit / NPL cycleHIGH IMPACT
  • Political & fiscal riskMEDIUM

Bottom line

Hold · Buy/Sell 47/100 · PT +5%
SELL / AVOIDHOLDATTRACTIVE BUY
A well-capitalised Brazilian bank throwing off a ~7.5% ADR yield with ROE recovering toward 15%. But at $5.74 the shares sit just under their 52-week high and the price has largely caught up to fundamentals, leaving limited upside — hence a Hold. Own it for income and BRL leverage, not for a re-rating.
Generated August 24, 2026. Prices reflect the last completed session (August 21, 2026), sourced via AlphaVantage & web research; some quotes carry data-provider lag — verify live prices before acting. 12-month charts are indicative. Risk score = Valuation 35% · Financial Health 35% · Growth 30% (0 = low risk, 100 = high risk). Buy/Sell weighs current price level against fundamentals (0 = avoid, 100 = attractive). For informational purposes only — not investment advice.