Published On: Fri, Sep 23rd, 2016

Zacks Investment Research Upgrades Banco Santander SA (SAN) to Buy

Banco Santander SA (NYSE:SAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $5.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 9.41% from the company’s current price.
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. “
A number of other brokerages have also recently issued reports on SAN. Barclays PLC raised Banco Santander SA from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 6th. Deutsche Bank AG raised Banco Santander SA from a “hold” rating to a “buy” rating in a research report on Wednesday, August 31st. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Banco Santander SA in a research report on Monday, August 1st. Citigroup Inc. reissued a “buy” rating on shares of Banco Santander SA in a research report on Wednesday, July 20th. Finally, Bank of America Corp. cut Banco Santander SA from a “neutral” rating to an “underperform” rating in a research report on Wednesday, July 20th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Banco Santander SA has an average rating of “Hold” and an average target price of $4.50.

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Shares of Banco Santander SA (NYSE:SAN) opened at 4.57 on Friday. The stock has a 50 day moving average price of $4.36 and a 200-day moving average price of $4.43. Banco Santander SA has a 52-week low of $3.60 and a 52-week high of $6.06. The stock has a market capitalization of $73.01 billion, a PE ratio of 13.89 and a beta of 1.66.
Several hedge funds have recently bought and sold shares of the stock. Carnick & Kubik Group LLC acquired a new stake in Banco Santander SA during the second quarter valued at approximately $140,000. Stifel Financial Corp boosted its stake in Banco Santander SA by 144.1% in the second quarter. Stifel Financial Corp now owns 474,707 shares of the company’s stock valued at $1,862,000 after buying an additional 280,222 shares in the last quarter. Cypress Wealth Advisors LLC purchased a new position in Banco Santander SA during the second quarter valued at $147,000. Flow Traders U.S. LLC increased its position in Banco Santander SA by 29,932.0% in the second quarter. Flow Traders U.S. LLC now owns 44,147 shares of the company’s stock valued at $173,000 after buying an additional 44,000 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in Banco Santander SA by 83.3% in the second quarter. Guggenheim Capital LLC now owns 909,095 shares of the company’s stock valued at $3,564,000 after buying an additional 413,123 shares during the last quarter. 0.63% of the stock is owned by institutional investors and hedge funds.
Banco Santander SA Company Profile
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.

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