Banco Santander (SAN) Lifted to “Hold” at Zacks Investment Research

Banco Santander (NYSE:SAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Several other research firms also recently weighed in on SAN. Keefe, Bruyette & Woods downgraded Banco Santander from an “outperform” rating to a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine raised Banco Santander from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Banco Santander presently has a consensus rating of “Hold” and a consensus target price of $6.85.

NYSE SAN opened at $4.72 on Wednesday. The company has a market cap of $74.43 billion, a PE ratio of 9.08, a P/E/G ratio of 1.14 and a beta of 1.18. The company has a debt-to-equity ratio of 4.01, a quick ratio of 1.42 and a current ratio of 1.42. Banco Santander has a fifty-two week low of $4.50 and a fifty-two week high of $7.57.

Banco Santander (NYSE:SAN) last released its earnings results on Wednesday, October 31st. The bank reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The company had revenue of $13.63 billion for the quarter. Banco Santander had a net margin of 15.20% and a return on equity of 7.62%. On average, equities analysts expect that Banco Santander will post 0.55 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAN. Morgan Stanley increased its position in shares of Banco Santander by 203.4% during the 3rd quarter. Morgan Stanley now owns 11,298,422 shares of the bank’s stock valued at $56,493,000 after purchasing an additional 7,574,610 shares during the last quarter. Cambiar Investors LLC grew its position in Banco Santander by 20.8% in the 3rd quarter. Cambiar Investors LLC now owns 26,051,566 shares of the bank’s stock valued at $130,258,000 after acquiring an additional 4,494,125 shares during the last quarter. Macquarie Group Ltd. grew its position in Banco Santander by 30.9% in the 3rd quarter. Macquarie Group Ltd. now owns 10,054,991 shares of the bank’s stock valued at $50,275,000 after acquiring an additional 2,372,931 shares during the last quarter. Fisher Asset Management LLC grew its position in Banco Santander by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 94,934,126 shares of the bank’s stock valued at $474,671,000 after acquiring an additional 1,827,838 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Banco Santander by 10.1% in the 2nd quarter. Bank of America Corp DE now owns 10,944,035 shares of the bank’s stock valued at $58,441,000 after acquiring an additional 999,509 shares during the last quarter. 1.62% of the stock is currently owned by hedge funds and other 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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