Published On: Wed, Sep 7th, 2016

Banco Santander SA (SAN) Upgraded to “Overweight” at Barclays PLC

Banco Santander SA (NYSE:SAN) was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday.
Several large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Banco Santander SA by 5.9% in the fourth quarter. Ameriprise Financial Inc. now owns 291,975 shares of the company’s stock valued at $1,423,000 after buying an additional 16,339 shares during the period. Millennium Management LLC raised its stake in Banco Santander SA by 74.2% in the fourth quarter. Millennium Management LLC now owns 434,629 shares of the company’s stock valued at $2,117,000 after buying an additional 185,058 shares during the period. Norges Bank purchased a new stake in Banco Santander SA during the fourth quarter valued at about $20,774,000. Creative Planning raised its stake in Banco Santander SA by 75.6% in the first quarter. Creative Planning now owns 256,262 shares of the company’s stock valued at $1,117,000 after buying an additional 110,338 shares during the period. Finally, Capstone Asset Management Co. raised its stake in Banco Santander SA by 2.3% in the first quarter. Capstone Asset Management Co. now owns 1,849,326 shares of the company’s stock valued at $8,063,000 after buying an additional 42,450 shares during the period.
Shares of Banco Santander SA (NYSE:SAN) traded up 0.22% during trading on Tuesday, hitting $4.57. 3,753,934 shares of the company traded hands. The company has a 50 day moving average price of $4.22 and a 200 day moving average price of $4.39. Banco Santander SA has a 52 week low of $3.60 and a 52 week high of $6.06. The company has a market capitalization of $73.01 billion and a price-to-earnings ratio of 13.85.

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The company also recently announced a dividend, which was paid on Monday, August 8th. Stockholders of record on Friday, July 29th were issued a $0.047 dividend. This is a boost from Banco Santander SA’s previous dividend of $0.04. The ex-dividend date was Wednesday, July 27th.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Banco Santander SA from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Tuesday, May 10th. Deutsche Bank AG upgraded shares of Banco Santander SA from a “hold” rating to a “buy” rating in a research report on Wednesday, August 31st. Goldman Sachs Group restated a “buy” rating on shares of Banco Santander SA in a research report on Monday, August 1st. Citigroup restated a “buy” rating on shares of Banco Santander SA in a research report on Wednesday, July 20th. Finally, Bank of America Corp. lowered shares of Banco Santander SA from a “neutral” rating to an “underperform” rating in a research report on Wednesday, July 20th. Six analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.50.
Banco Santander, SA is a retail and commercial bank. The Bank’s principal business is to attract deposits and provide loans. The Bank focuses its wholesale banking offer on providing services to its main customers in local markets. The Banks segments include Continental Europe, United Kingdom, Latin America and United States.
To view Barclays PLC’s full report, visit Barclays PLC’s official website.

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