Banco Santander (NYSE:SAN) Stock Price Up 3.7% – Here’s Why

Banco Santander, S.A. (NYSE:SAN) shot up 3.7% on Tuesday . The company traded as high as $7.10 and last traded at $7.14. 2,823,477 shares changed hands during trading, a decline of 11% from the average session volume of 3,155,757 shares. The stock had previously closed at $6.88.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Morgan Stanley upgraded Banco Santander from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, November 26th. StockNews.com upgraded Banco Santander from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upgraded shares of Banco Santander from a “hold” rating to a “moderate buy” rating in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Banco Santander has an average rating of “Buy”.

Banco Santander Stock Up 3.7 %

The firm has a market capitalization of $108.11 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 0.77 and a beta of 1.09. The company has a debt-to-equity ratio of 13.83, a current ratio of 2.24 and a quick ratio of 0.23. The stock has a fifty day moving average of $5.68 and a two-hundred day moving average of $5.12.

Banco Santander (NYSE:SAN) last issued its quarterly earnings data on Wednesday, February 5th. The bank reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Banco Santander had a return on equity of 11.90% and a net margin of 15.88%. Sell-side analysts anticipate that Banco Santander, S.A. will post 0.83 earnings per share for the current year.

Banco Santander Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.1152 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a yield of 2.4%. This is a boost from Banco Santander’s previous semi-annual dividend of $0.08. Banco Santander’s dividend payout ratio is 19.28%.

Hedge Funds Weigh In On Banco Santander

Institutional investors have recently modified their holdings of the company. R Squared Ltd bought a new stake in Banco Santander during the 4th quarter valued at $27,000. Larson Financial Group LLC grew its holdings in Banco Santander by 2,226.3% during the fourth quarter. Larson Financial Group LLC now owns 5,839 shares of the bank’s stock worth $27,000 after buying an additional 5,588 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Banco Santander in the 4th quarter valued at $32,000. WealthCollab LLC boosted its holdings in Banco Santander by 35.1% during the 4th quarter. WealthCollab LLC now owns 7,801 shares of the bank’s stock worth $36,000 after acquiring an additional 2,028 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of Banco Santander in the 4th quarter worth $37,000. 9.19% of the stock is owned by institutional investors and hedge funds.

Banco Santander Company Profile

Banco Santander, SA provides various financial services worldwide. The company operates through Retail Banking, Santander Corporate & Investment Banking, Wealth Management & Insurance, and PagoNxt segments. It offers demand and time deposits, mutual funds, and current and savings accounts; mortgages, consumer finance, loans, and various financing solutions; and project finance, debt capital markets, global transaction banking, and corporate finance services.