Banco Santander (NYSE:SAN) Stock Rating Lowered by Zacks Investment Research

Banco Santander (NYSE:SAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, Zacks.com reports.

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 research analysts also recently issued research reports about the company. Exane BNP Paribas downgraded Banco Santander from an “outperform” rating to a “neutral” rating in a research note on Monday, September 20th. Oddo Bhf raised Banco Santander to a “buy” rating and set a $3.70 price target on the stock in a research note on Thursday, September 16th. Morgan Stanley downgraded Banco Santander from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 12th. BNP Paribas downgraded Banco Santander from an “outperform” rating to a “neutral” rating and set a $3.50 price target on the stock. in a research note on Monday, September 20th. Finally, Credit Suisse Group downgraded Banco Santander from an “outperform” rating to a “neutral” rating in a research note on Wednesday, December 8th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.39.

NYSE:SAN opened at $3.26 on Friday. The stock’s fifty day moving average price is $3.46 and its two-hundred day moving average price is $3.67. Banco Santander has a 52-week low of $2.92 and a 52-week high of $4.38. The company has a market cap of $56.53 billion, a price-to-earnings ratio of 8.58 and a beta of 1.37.

Banco Santander (NYSE:SAN) last posted its quarterly earnings data on Wednesday, October 27th. The bank reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. Banco Santander had a return on equity of 8.25% and a net margin of 13.45%. The firm had revenue of $14.07 billion for the quarter. Analysts forecast that Banco Santander will post 0.53 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its holdings in Banco Santander by 4.8% during the 3rd quarter. Fisher Asset Management LLC now owns 124,214,803 shares of the bank’s stock worth $449,658,000 after purchasing an additional 5,674,569 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Banco Santander by 0.4% during the 2nd quarter. Macquarie Group Ltd. now owns 21,879,970 shares of the bank’s stock worth $85,551,000 after purchasing an additional 81,880 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Banco Santander by 12.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 14,053,316 shares of the bank’s stock worth $54,948,000 after purchasing an additional 1,570,646 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in Banco Santander by 13.8% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 10,456,376 shares of the bank’s stock worth $37,852,000 after purchasing an additional 1,267,171 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Banco Santander by 7.4% during the 3rd quarter. Goldman Sachs Group Inc. now owns 10,369,679 shares of the bank’s stock worth $37,539,000 after purchasing an additional 712,353 shares in the last quarter. Hedge funds and other institutional investors own 1.91% of the company’s stock.

About Banco Santander

Banco Santander SA is a banking services company, which engages in the provision of banking services to individuals, companies, and institutions. It operates through the following segments: Europe, North America, South America, and Santander Global Platform. The Europe segment comprises business activities carried out in the region.

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Analyst Recommendations for Banco Santander (NYSE:SAN)

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