Banco Santander (NYSE:SAN) Shares Gap Down – Here’s Why

Banco Santander, S.A. (NYSE:SAN) shares gapped down before the market opened on Friday . The stock had previously closed at $4.74, but opened at $4.53. Banco Santander shares last traded at $4.54, with a volume of 1,006,353 shares.

Wall Street Analysts Forecast Growth

Several analysts have commented on SAN shares. StockNews.com downgraded Banco Santander from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group upgraded Banco Santander from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 4th.

Banco Santander Price Performance

The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.23 and a current ratio of 0.33. The stock’s fifty day moving average price is $4.93 and its 200-day moving average price is $4.88. The firm has a market cap of $72.01 billion, a PE ratio of 5.69, a P/E/G ratio of 0.45 and a beta of 1.14.

Banco Santander Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 6th. Investors of record on Thursday, October 31st were paid a $0.08 dividend. This represents a yield of 3%. The ex-dividend date was Thursday, October 31st. Banco Santander’s payout ratio is currently 18.75%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creative Planning grew its stake in Banco Santander by 13.5% in the 3rd quarter. Creative Planning now owns 1,341,733 shares of the bank’s stock valued at $6,843,000 after acquiring an additional 159,610 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Banco Santander by 24.4% in the second quarter. QRG Capital Management Inc. now owns 1,637,838 shares of the bank’s stock valued at $7,583,000 after purchasing an additional 321,772 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Banco Santander by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 4,824,760 shares of the bank’s stock worth $23,352,000 after purchasing an additional 834,200 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Banco Santander by 2.3% in the 1st quarter. Russell Investments Group Ltd. now owns 249,397 shares of the bank’s stock valued at $1,207,000 after buying an additional 5,634 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Banco Santander by 10.3% during the 2nd quarter. Fifth Third Bancorp now owns 216,836 shares of the bank’s stock valued at $1,004,000 after buying an additional 20,163 shares during the last quarter. Hedge funds and other institutional investors own 9.19% of the company’s stock.

Banco Santander Company Profile

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.