Banco Santander (NYSE:SAN) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Banco Santander (NYSE:SAN) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on SAN. Weiss Ratings restated a “buy (b+)” rating on shares of Banco Santander in a research note on Wednesday, October 8th. The Goldman Sachs Group downgraded Banco Santander from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 16th. Finally, Kepler Capital Markets cut shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Banco Santander currently has an average rating of “Hold”.

Banco Santander Trading Up 0.2%

Shares of NYSE:SAN traded up $0.02 during midday trading on Tuesday, hitting $10.30. The stock had a trading volume of 483,373 shares, compared to its average volume of 5,043,005. Banco Santander has a 1 year low of $4.43 and a 1 year high of $11.13. The stock has a 50 day moving average price of $10.17 and a two-hundred day moving average price of $9.11. The company has a market capitalization of $153.38 billion, a PE ratio of 10.96, a P/E/G ratio of 0.70 and a beta of 1.05.

Banco Santander (NYSE:SAN) last announced its quarterly earnings data on Wednesday, October 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Banco Santander had a net margin of 17.90% and a return on equity of 11.92%. The firm had revenue of $17.80 billion during the quarter, compared to analyst estimates of $15.32 billion. Banco Santander has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Banco Santander will post 0.83 EPS for the current year.

Banco Santander Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, November 6th. Stockholders of record on Friday, October 31st were paid a dividend of $0.0956 per share. This represents a dividend yield of 263.0%. The ex-dividend date of this dividend was Friday, October 31st. Banco Santander’s payout ratio is 19.15%.

Hedge Funds Weigh In On Banco Santander

Several hedge funds have recently added to or reduced their stakes in the business. Richardson Financial Services Inc. purchased a new stake in shares of Banco Santander in the second quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in shares of Banco Santander during the 3rd quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in Banco Santander in the 3rd quarter valued at approximately $27,000. Westside Investment Management Inc. acquired a new stake in Banco Santander during the 2nd quarter valued at $30,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Banco Santander during the second quarter worth $30,000. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Santander

Banco Santander, SA provides various financial services worldwide. The company operates through Retail Banking, Santander Corporate & Investment Banking, Wealth Management & Insurance, and PagoNxt segments. It offers demand and time deposits, mutual funds, and current and savings accounts; mortgages, consumer finance, loans, and various financing solutions; and project finance, debt capital markets, global transaction banking, and corporate finance services.