Banco Santander (Brasil) SA ADR Dossier
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SectorFinancials IndustryDiversified Banks Beta (adjusted)0.46 Intrinsic Value Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet. Market Price $5.57Price as of 30 Sep 2026 Data confidence Sign in to view data confidence Market Cap $41.7B Shares Outstanding 7.5B diluted Next Earnings Date28 Oct 2026 Last ex-dividend30 Jul 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary BSBR is principally an event-driven holding while Banco Santander pursues voluntary exchange offers for the approximately 10% of Santander Brasil it does not already own. The announced consideration is 0.4056 newly issued Banco Santander shares for each BSBR ADS, initially representing a 15% premium to the stated reference price. The offer has no minimum-acceptance condition, but commencement and completion remain subject to customary conditions, including regulatory approvals, approval of Banco Santander's capital increase, and no material adverse change. Because consideration is equity rather than fixed cash, realized value depends on Banco Santander's share price, applicable exchange rates, final adjustments, and completion. Potential removal of the BSBR ADSs from the NYSE is an additional liquidity consideration. These factors support a Hold rather than a directional valuation call. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$6.00 Mean target$7.10 High · most bullish analyst$8.10 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $6.0020% Regulatory or shareholder approvals are delayed or fail, a material adverse change prevents completion, the value of Banco Santander shares or relevant currencies weakens, or reduced ADS participation leads to NYSE delisting and materially poorer liquidity. Base CaseCentral scenario $7.1055% Matches the consensus meanThe exchange process advances substantially on the announced 0.4056-share ratio, but the value received continues to fluctuate with Banco Santander shares and currency movements. Bull CaseUpside scenario $8.1025% The exchange offers proceed on the announced terms, Banco Santander shares and relevant exchange rates remain favorable, and BSBR ADS holders realize value above the initial reference premium while obtaining a more diversified parent-bank security. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |