Banco Santander, S.A. (NYSE:SAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $7.75 price objective on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.47% from the stock’s current price.

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. “

Other equities analysts also recently issued research reports about the stock. J P Morgan Chase & Co restated a “buy” rating on shares of Banco Santander, in a report on Thursday, April 20th. Bank of America Corporation upgraded shares of Banco Santander, from an “underperform” rating to a “neutral” rating in a report on Friday, June 9th. Citigroup Inc. downgraded shares of Banco Santander, from a “buy” rating to a “neutral” rating in a report on Tuesday, April 25th. Keefe, Bruyette & Woods upgraded shares of Banco Santander, from an “underperform” rating to a “market perform” rating and set a $25.50 price objective on the stock in a report on Thursday, April 27th. Finally, Societe Generale assumed coverage on shares of Banco Santander, in a report on Thursday, February 23rd. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Banco Santander, presently has a consensus rating of “Buy” and an average target price of $16.63.

Analyst Recommendations for Banco Santander, (NYSE:SAN)

Shares of Banco Santander, (SAN) opened at 6.83 on Wednesday. The stock’s 50 day moving average is $6.63 and its 200-day moving average is $5.80. The stock has a market cap of $99.58 billion, a P/E ratio of 14.59 and a beta of 1.52. Banco Santander, has a one year low of $3.60 and a one year high of $6.99.

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A number of large investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in Banco Santander, by 2.0% in the first quarter. Macquarie Group Ltd. now owns 7,775,039 shares of the bank’s stock valued at $47,194,000 after buying an additional 153,997 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Banco Santander, by 20.0% in the first quarter. Parametric Portfolio Associates LLC now owns 6,537,270 shares of the bank’s stock valued at $39,681,000 after buying an additional 1,087,472 shares in the last quarter. Norges Bank bought a new stake in Banco Santander, during the fourth quarter valued at approximately $22,350,000. Karp Capital Management Corp bought a new stake in Banco Santander, during the first quarter valued at approximately $21,219,000. Finally, Morgan Stanley raised its stake in Banco Santander, by 9.6% in the first quarter. Morgan Stanley now owns 3,035,091 shares of the bank’s stock valued at $18,424,000 after buying an additional 266,572 shares in the last quarter. Hedge funds and other institutional investors own 0.71% of the company’s stock.

About Banco Santander,

Banco Santander, SA is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country.

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