Banco Santander, S.A. (NYSE:SAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $6.75 target price on the bank’s stock. Zacks Investment Research’s price target suggests a potential upside of 11.20% from the stock’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. “
Several other analysts also recently issued reports on SAN. Goldman Sachs Group Inc reaffirmed a “buy” rating on shares of Banco Santander, in a report on Tuesday, December 6th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Banco Santander, in a report on Thursday, January 5th. Banco Santander raised shares of Banco Santander, from a “neutral” rating to a “buy” rating in a report on Wednesday, February 1st. BNP Paribas downgraded shares of Banco Santander, from an “outperform” rating to an “underperform” rating in a report on Thursday, February 9th. Finally, Citigroup Inc reaffirmed a “buy” rating on shares of Banco Santander, in a report on Thursday, February 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $6.75.
Shares of Banco Santander, (NYSE:SAN) traded up 1.68% during trading on Thursday, reaching $6.07. The company had a trading volume of 15,363,713 shares. Banco Santander, has a 52 week low of $3.60 and a 52 week high of $6.23. The stock’s 50-day moving average price is $5.92 and its 200-day moving average price is $5.25. The company has a market capitalization of $88.51 billion, a PE ratio of 14.02 and a beta of 1.67.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Investors of record on Friday, April 28th will be paid a dividend of $0.0588 per share. This is a boost from Banco Santander,’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Wednesday, April 26th. Banco Santander,’s dividend payout ratio is presently 38.64%.
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Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in Banco Santander, by 14.5% in the third quarter. US Bancorp DE now owns 109,141 shares of the bank’s stock valued at $482,000 after buying an additional 13,858 shares during the last quarter. CIBC World Markets Inc. boosted its position in Banco Santander, by 4.5% in the third quarter. CIBC World Markets Inc. now owns 462,180 shares of the bank’s stock valued at $2,038,000 after buying an additional 19,767 shares during the last quarter. TD Asset Management Inc. boosted its position in Banco Santander, by 3.3% in the third quarter. TD Asset Management Inc. now owns 67,223 shares of the bank’s stock valued at $489,000 after buying an additional 2,175 shares during the last quarter. SOL Capital Management CO boosted its position in shares of Banco Santander, by 7.0% in the third quarter. SOL Capital Management CO now owns 79,281 shares of the bank’s stock worth $350,000 after buying an additional 5,167 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Banco Santander, by 1.7% in the third quarter. Ballentine Partners LLC now owns 114,552 shares of the bank’s stock worth $505,000 after buying an additional 1,870 shares in the last quarter. Hedge funds and other institutional investors own 0.61% of the company’s stock.
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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