Banco Santander (NYSE:SAN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Banco Santander (NYSE:SAN) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

A number of other analysts also recently weighed in on SAN. Morgan Stanley upgraded shares of Banco Santander from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 26th. UBS Group upgraded Banco Santander from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 4th.

Banco Santander Price Performance

NYSE:SAN opened at $4.62 on Thursday. The company has a market capitalization of $73.11 billion, a P/E ratio of 5.78, a P/E/G ratio of 0.44 and a beta of 1.14. The business’s 50-day moving average is $4.89 and its 200 day moving average is $4.86. The company has a current ratio of 0.33, a quick ratio of 0.23 and a debt-to-equity ratio of 3.08. Banco Santander has a 12 month low of $3.83 and a 12 month high of $5.27.

Banco Santander Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 6th. Investors of record on Thursday, October 31st were issued a dividend of $0.08 per share. This represents a yield of 3%. The ex-dividend date of this dividend was Thursday, October 31st. Banco Santander’s payout ratio is currently 18.75%.

Hedge Funds Weigh In On Banco Santander

A number of institutional investors have recently modified their holdings of the stock. Groupama Asset Managment purchased a new stake in shares of Banco Santander in the 3rd quarter worth approximately $53,000. FMR LLC lifted its holdings in Banco Santander by 33.9% during the third quarter. FMR LLC now owns 20,893,727 shares of the bank’s stock worth $106,558,000 after buying an additional 5,290,236 shares during the period. Chevy Chase Trust Holdings LLC purchased a new position in shares of Banco Santander in the 3rd quarter valued at $22,500,000. Fisher Asset Management LLC raised its position in shares of Banco Santander by 1.4% in the 3rd quarter. Fisher Asset Management LLC now owns 143,585,152 shares of the bank’s stock worth $732,284,000 after acquiring an additional 2,011,150 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Banco Santander by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 4,824,760 shares of the bank’s stock worth $23,352,000 after purchasing an additional 834,200 shares during the last quarter. 9.19% of the stock is owned by hedge funds and other institutional investors.

About Banco Santander

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.