Banco Santander (SAN) Upgraded to “Hold” by Zacks Investment Research

Banco Santander (NYSE:SAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Banco Santander SA is the biggest bank in Spain and the biggest international bank in Latin America as well. The Bank concentrates its activities in Andalucia, Castilla-Leon, Catalonia, Madrid, Valencia and Cantabria. The Bank provides banking services for individuals and companies, leasing, factoring, stockbrokerage and mutual fund services. “

SAN has been the topic of several other reports. Keefe, Bruyette & Woods cut shares of Banco Santander from an “outperform” rating to a “hold” rating in a report on Tuesday, October 2nd. ValuEngine raised shares of Banco Santander from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.85.

SAN opened at $4.82 on Friday. The firm has a market capitalization of $79.56 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 4.01, a quick ratio of 1.32 and a current ratio of 1.42. Banco Santander has a 12-month low of $4.50 and a 12-month high of $7.57.

Banco Santander (NYSE:SAN) last posted its quarterly earnings results on Wednesday, October 31st. The bank reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $13.63 billion during the quarter. Banco Santander had a net margin of 15.20% and a return on equity of 7.62%. As a group, equities research analysts anticipate that Banco Santander will post 0.55 EPS for the current fiscal year.

Several large investors have recently modified their holdings of SAN. Confluence Investment Management LLC acquired a new stake in shares of Banco Santander during the second quarter worth $972,000. Mckinley Capital Management LLC Delaware raised its holdings in shares of Banco Santander by 6.3% during the second quarter. Mckinley Capital Management LLC Delaware now owns 168,980 shares of the bank’s stock worth $902,000 after purchasing an additional 10,008 shares during the period. Bank of Montreal Can raised its holdings in shares of Banco Santander by 12.6% during the second quarter. Bank of Montreal Can now owns 1,273,475 shares of the bank’s stock worth $6,801,000 after purchasing an additional 142,798 shares during the period. Cambiar Investors LLC raised its holdings in shares of Banco Santander by 3.0% during the second quarter. Cambiar Investors LLC now owns 21,557,441 shares of the bank’s stock worth $115,117,000 after purchasing an additional 626,461 shares during the period. Finally, AMG National Trust Bank acquired a new stake in shares of Banco Santander during the second quarter worth $1,959,000. 1.62% of the stock is currently owned by institutional investors.

Banco Santander Company Profile

Banco Santander, SA, together with its subsidiaries, provides various retail and commercial banking products and services for individual and corporate clients worldwide. It offers demand and time deposits, and current and savings accounts; certificates of deposit; mortgages, auto finance, and personal loans; working capital finance; and debit and credit cards, as well as life and non-life insurance products.

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