Banco Santander, S.A. (SAN) Raised to Buy at Zacks Investment Research
Banco Santander, S.A. (NYSE:SAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $7.50 price objective on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.61% from the company’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. “
Several other brokerages also recently issued reports on SAN. Bank of America Corporation upgraded Banco Santander, from an “underperform” rating to a “neutral” rating in a report on Friday, June 9th. ValuEngine upgraded Banco Santander, from a “buy” rating to a “strong-buy” rating in a report on Monday, July 17th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Banco Santander, in a report on Tuesday, August 15th. Finally, BidaskClub downgraded Banco Santander, from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Banco Santander, currently has an average rating of “Hold” and an average target price of $16.50.
Banco Santander, (SAN) traded down 0.60% on Thursday, reaching $6.66. The company had a trading volume of 3,917,212 shares. The firm has a market capitalization of $102.43 billion, a price-to-earnings ratio of 12.31 and a beta of 1.38. The stock’s 50-day moving average price is $6.59 and its 200 day moving average price is $6.43. Banco Santander, has a 52-week low of $4.19 and a 52-week high of $6.99.
Banco Santander, (NYSE:SAN) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). Banco Santander, had a net margin of 14.98% and a return on equity of 6.70%. The company had revenue of $13.10 billion during the quarter. On average, equities analysts anticipate that Banco Santander, will post $0.49 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in shares of Banco Santander, during the first quarter valued at about $6,464,000. Stifel Financial Corp grew its stake in shares of Banco Santander, by 12.3% during the first quarter. Stifel Financial Corp now owns 557,347 shares of the bank’s stock valued at $3,378,000 after acquiring an additional 61,077 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Banco Santander, by 41.0% during the first quarter. Fifth Third Bancorp now owns 65,046 shares of the bank’s stock valued at $395,000 after acquiring an additional 18,930 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Banco Santander, by 409.9% during the second quarter. Pacer Advisors Inc. now owns 151,887 shares of the bank’s stock valued at $1,016,000 after acquiring an additional 122,097 shares in the last quarter. Finally, WBI Investments Inc. acquired a new stake in shares of Banco Santander, during the second quarter valued at about $3,171,000. Institutional investors own 1.30% of the company’s stock.
Banco Santander, Company Profile
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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