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 Wednesday. The brokerage presently has a $7.75 price objective on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.97% from the company’s previous close.

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 subject of a number of other research reports. Bank of America Corporation raised Banco Santander, from an “underperform” rating to a “neutral” rating in a research report on Friday, June 9th. ValuEngine upgraded Banco Santander, from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 17th. BidaskClub lowered Banco Santander, from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Banco Santander, in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.63.

Banco Santander, (SAN) traded down 3.309% during mid-day trading on Wednesday, reaching $6.575. The company had a trading volume of 7,271,819 shares. The firm has a market capitalization of $101.13 billion, a PE ratio of 12.086 and a beta of 1.38. Banco Santander, has a 52 week low of $4.23 and a 52 week high of $6.99. The stock’s 50-day moving average price is $6.60 and its 200 day moving average price is $6.54.

Banco Santander, (NYSE:SAN) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter. On average, equities research analysts predict that Banco Santander, will post $0.49 EPS for the current year.

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Several hedge funds have recently modified their holdings of the company. Lincoln National Corp boosted its stake in shares of Banco Santander, by 5.0% in the second quarter. Lincoln National Corp now owns 15,711 shares of the bank’s stock worth $105,000 after buying an additional 755 shares during the last quarter. Rhumbline Advisers acquired a new stake in Banco Santander, during the second quarter worth about $108,000. Good Life Advisors LLC acquired a new stake in Banco Santander, during the second quarter worth about $119,000. Keybank National Association OH acquired a new stake in Banco Santander, during the first quarter worth about $114,000. Finally, Proficio Capital Partners LLC grew its holdings in Banco Santander, by 183.5% during the first quarter. Proficio Capital Partners LLC now owns 19,732 shares of the bank’s stock worth $130,000 after acquiring an additional 12,773 shares during the period. 1.30% of the stock is owned by institutional investors and hedge funds.

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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