Banco Santander (NYSE:SAN) Stock Dropped to Strong Sell by Zacks Research

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

SAN has been the subject of a number of other research reports. Jefferies Financial Group cut shares of Banco Santander from a “buy” rating to a “hold” rating in a research note on Tuesday, October 20th. DZ Bank reiterated a “neutral” rating on shares of Banco Santander in a research note on Wednesday, July 22nd. Barclays reissued a “buy” rating on shares of Banco Santander in a report on Tuesday, July 14th. Mediobanca restated an “outperform” rating on shares of Banco Santander in a research report on Tuesday, September 15th. Finally, UBS Group restated a “buy” rating on shares of Banco Santander in a report on Monday, September 21st. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.10.

Banco Santander Price Performance

SAN stock opened at $12.06 on Tuesday. Banco Santander has a one year low of $10.05 and a one year high of $15.05. The stock has a market cap of $177.20 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 0.55 and a beta of 0.78. The company has a fifty day moving average price of $13.72 and a two-hundred day moving average price of $12.94.

Hedge Funds Weigh In On Banco Santander

Hedge funds have recently bought and sold shares of the business. Fiduciary Financial Group LLC boosted its holdings in Banco Santander by 4.0% in the 2nd quarter. Fiduciary Financial Group LLC now owns 20,658 shares of the bank’s stock valued at $285,000 after purchasing an additional 788 shares during the period. Hidden Cove Wealth Management LLC grew its position in shares of Banco Santander by 7.8% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 11,964 shares of the bank’s stock worth $165,000 after purchasing an additional 861 shares in the last quarter. LifeGoal Investments LLC increased its holdings in shares of Banco Santander by 9.0% during the third quarter. LifeGoal Investments LLC now owns 11,277 shares of the bank’s stock worth $156,000 after purchasing an additional 928 shares during the period. Nilsine Partners LLC increased its holdings in shares of Banco Santander by 4.2% during the second quarter. Nilsine Partners LLC now owns 23,331 shares of the bank’s stock worth $322,000 after purchasing an additional 936 shares during the period. Finally, Athena Wealth Management LLC raised its position in shares of Banco Santander by 3.7% in the third quarter. Athena Wealth Management LLC now owns 28,028 shares of the bank’s stock valued at $388,000 after buying an additional 987 shares in the last quarter. 9.19% of the stock is owned by institutional investors.

Banco Santander Company Profile

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.