Santander Brasil advances exchange offers for Banco Santander Brasil stock

Published on 10/02/2026 at 16:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

HSBC cut its target to BRL 31.00 on September 15, 2026. Banco Santander Brasil stock costs EUR 4.72 on October 2, 2026 after EUR 4.74.

BSBR, US05967A1079, Illustration mit AI erstellt.

Banco Santander Brasil (ISIN US05967A1079) advanced its planned exchange offers on September 21, 2026, while Banco Santander Brasil stock was quoted at EUR 4.72 at Lang & Schwarz on October 2, 2026. The filing covers Brazilian and U.S. offers for the securities and includes a Form F-4 registration statement filed with the U.S. Securities and Exchange Commission, according to StockTitan.

Exchange offer reaches filing stage

The September 21 filing also covered a Brazilian exchange offer registration request with CVM and B3, plus an independent appraisal report prepared by UBS BB Corretora. The Form F-4 had not yet been declared effective, so the filing marked a procedural step rather than completion of the transaction.

The offer process matters directly to the U.S.-listed ADR because the filing concerns both Brazilian and U.S. securities. The company remains listed in Brazil under SANB11, while the New York ticker is BSBR, as described by Investing.com.

HSBC target falls to BRL 31.00

HSBC downgraded Banco Santander Brasil from Buy to Hold on September 15, 2026 and cut its target to BRL 31.00 from BRL 36.00. The bank cited the exchange offer and expected liquidity pressure, while its 14.00 percent target reduction adds a clear counterweight to the transaction narrative, according to Investing.com.

Operating figures provide a second measure of the bank's position. Recurring net income reached BRL 3.0 billion in the second quarter of 2026, return on average equity was 12.50 percent, and one-off loan-loss provisions totaled BRL 700.0 million, the same report said.

Second-quarter results set the baseline

Structured financial data shows consolidated net income of BRL 2.96 billion for the second quarter of 2026 and a 16.00 percent net profit margin. The difference between that figure and the BRL 3.0 billion recurring measure reflects the distinction between standardized consolidated earnings and the recurring result cited in the analyst report.

The next reported earnings date is October 28, 2026, for the third quarter, according to MarketBeat.

BSBR trades below prior close

Banco Santander Brasil stock was trading at EUR 4.72 at Lang & Schwarz on October 2, 2026 at 4:12 p.m. CEST, down 0.42 percent versus the prior close of EUR 4.74 on October 1, 2026. The reference price is an intraday euro indication for Germany-based investors, while the exchange-offer filings and HSBC target define the key corporate and analyst context.