Zacks Research Downgrades Banco Santander (NYSE:SAN) to Hold

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

Several other brokerages have also recently commented on SAN. Kepler Capital Markets cut shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Weiss Ratings reiterated a “buy (b+)” rating on shares of Banco Santander in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group downgraded Banco Santander from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Banco Santander presently has an average rating of “Hold”.

Banco Santander Trading Down 1.1%

Banco Santander stock traded down $0.12 during midday trading on Tuesday, reaching $10.17. 1,045,329 shares of the stock traded hands, compared to its average volume of 5,044,723. The firm has a market cap of $151.31 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.05. The company has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $9.11. Banco Santander has a 12-month low of $4.43 and a 12-month high of $11.13.

Banco Santander (NYSE:SAN) last issued its quarterly earnings results on Wednesday, October 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Banco Santander had a return on equity of 11.92% and a net margin of 17.90%.The business had revenue of $17.80 billion for the quarter, compared to analysts’ expectations of $15.32 billion. Banco Santander has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Banco Santander will post 0.83 earnings per share for the current year.

Institutional Trading of Banco Santander

Institutional investors have recently modified their holdings of the business. Root Financial Partners LLC acquired a new position in Banco Santander during the third quarter worth $25,000. True Wealth Design LLC purchased a new stake in shares of Banco Santander in the 3rd quarter worth about $27,000. Princeton Global Asset Management LLC acquired a new stake in Banco Santander in the 3rd quarter valued at about $31,000. Richardson Financial Services Inc. purchased a new position in Banco Santander during the 2nd quarter valued at about $25,000. Finally, Binnacle Investments Inc lifted its holdings in shares of Banco Santander by 96.2% in the third quarter. Binnacle Investments Inc now owns 3,227 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,582 shares in the last quarter. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

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.