Banco Santander (NYSE:SAN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Banco Santander (NYSE:SAN) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

Several other equities analysts also recently weighed in on the stock. UBS Group downgraded shares of Banco Santander from a buy rating to a neutral rating in a report on Thursday, July 18th. ValuEngine downgraded shares of Banco Santander from a sell rating to a strong sell rating in a report on Tuesday, July 2nd. Finally, HSBC raised shares of Banco Santander from a reduce rating to a hold rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Banco Santander has a consensus rating of Hold and a consensus price target of $5.75.

Shares of NYSE SAN opened at $4.04 on Wednesday. The firm has a 50 day moving average of $3.93 and a 200 day moving average of $4.49. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 11.13. The firm has a market capitalization of $65.60 billion, a price-to-earnings ratio of 7.35 and a beta of 1.19. Banco Santander has a 12-month low of $3.65 and a 12-month high of $5.39.

Banco Santander (NYSE:SAN) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The business had revenue of $13.88 billion for the quarter. Banco Santander had a net margin of 14.99% and a return on equity of 7.27%. Sell-side analysts predict that Banco Santander will post 0.52 EPS for the current year.

Large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in Banco Santander during the second quarter valued at approximately $29,000. Cornerstone Advisors Inc. lifted its holdings in Banco Santander by 53.9% during the first quarter. Cornerstone Advisors Inc. now owns 7,473 shares of the bank’s stock valued at $35,000 after purchasing an additional 2,616 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Banco Santander during the second quarter valued at approximately $43,000. Pointe Capital Management LLC purchased a new position in Banco Santander during the second quarter valued at approximately $46,000. Finally, Mutual Advisors LLC purchased a new position in Banco Santander during the second quarter valued at approximately $47,000. 1.75% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Company Profile

Banco Santander, SA, together with its subsidiaries, provides various retail and commercial banking products and services for individual and corporate clients worldwide. It offers demand and time deposits, and current and savings accounts; mortgages, consumer finance, auto finance, and personal loans; export and agency finance, trade and working capital solutions, syndicated corporate loans, and structured financing; debt capital markets and global markets services; and debit and credit cards.

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