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

Banco Santander (NYSE:SAN) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

A number of other brokerages have also commented on SAN. Royal Bank Of Canada reiterated a “buy” rating on shares of Banco Santander in a report on Tuesday, July 28th. Jefferies Financial Group cut Banco Santander from a “buy” rating to a “hold” rating in a report on Tuesday, October 20th. Weiss Ratings downgraded shares of Banco Santander from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 23rd. Erste Group Bank cut Banco Santander from a “buy” rating to a “hold” rating in a report on Friday, October 30th. Finally, Barclays reissued a “buy” rating on shares of Banco Santander in a report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.10.

Banco Santander Trading Up 6.4%

Shares of Banco Santander stock opened at $12.06 on Tuesday. The stock has a market capitalization of $177.20 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 0.55 and a beta of 0.78. Banco Santander has a 1-year low of $10.05 and a 1-year high of $15.05. The firm has a fifty day simple moving average of $13.72 and a 200-day simple moving average of $12.94.

Institutional Trading of Banco Santander

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of Banco Santander by 118.9% in the first quarter. Bank of America Corp DE now owns 11,413,194 shares of the bank’s stock valued at $128,741,000 after purchasing an additional 6,198,828 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Banco Santander by 37.9% in the 1st quarter. Quantinno Capital Management LP now owns 2,566,939 shares of the bank’s stock valued at $28,955,000 after purchasing an additional 705,034 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Banco Santander by 32.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,535,847 shares of the bank’s stock valued at $17,324,000 after purchasing an additional 373,646 shares during the last quarter. Sei Investments Co. grew its holdings in Banco Santander by 18.3% during the first quarter. Sei Investments Co. now owns 956,275 shares of the bank’s stock worth $10,787,000 after purchasing an additional 147,776 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Banco Santander by 9.2% during the first quarter. Cetera Investment Advisers now owns 703,998 shares of the bank’s stock worth $7,941,000 after purchasing an additional 59,304 shares during the period. 9.19% of the stock is owned by institutional investors.

About Banco Santander

Banco Santander, SA is a Spain-based global banking group founded in 1857 and headquartered in Santander, Spain. The company provides financial services to individuals, businesses, institutions and governments through a network spanning Europe, North America and South America.

Its principal activities include retail and commercial banking, consumer finance, corporate and investment banking, payments, asset management and private banking. Santander offers products and services such as current and savings accounts, mortgages, personal and business loans, credit cards, insurance, investment products, cash-management services and financing for corporate clients.

The group operates through established banking businesses in markets including Spain, the United Kingdom, Portugal, Poland, Brazil, Mexico, Chile, Argentina and the United States.