Banco Santander (SAN) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research lowered shares of Banco Santander (NYSE:SAN) from a hold rating to a sell rating in a research report released on Tuesday.
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. “
Other equities analysts have also issued reports about the company. Goldman Sachs Group upgraded Banco Santander from a neutral rating to a buy rating and set a $6.20 price target on the stock in a research note on Friday, November 24th. ValuEngine lowered Banco Santander from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $13.15.
Banco Santander (NYSE:SAN) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $14.39 billion for the quarter. Banco Santander had a return on equity of 6.86% and a net margin of 14.06%. research analysts predict that Banco Santander will post 0.55 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in SAN. Russell Investments Group Ltd. bought a new stake in shares of Banco Santander in the 2nd quarter valued at approximately $2,888,000. Janney Montgomery Scott LLC boosted its holdings in shares of Banco Santander by 0.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 107,423 shares of the bank’s stock worth $719,000 after acquiring an additional 757 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Banco Santander by 261.5% in the 2nd quarter. Sei Investments Co. now owns 338,463 shares of the bank’s stock worth $2,265,000 after acquiring an additional 244,832 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Banco Santander by 27.7% in the 2nd quarter. TD Asset Management Inc. now owns 69,330 shares of the bank’s stock worth $505,000 after acquiring an additional 15,023 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Banco Santander in the 2nd quarter worth approximately $108,000. Institutional investors own 1.26% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Banco Santander (SAN) Downgraded by Zacks Investment Research to Sell” was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.watchlistnews.com/banco-santander-san-downgraded-by-zacks-investment-research-to-sell/1760998.html.
About Banco Santander
Banco Santander, SA is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country.
Receive News & Ratings for Banco Santander Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Santander and related companies with MarketBeat.com's FREE daily email newsletter.