Banco Santander, S.A. (NYSE:SAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $7.75 target price on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.97% from the stock’s previous close.

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 research firms have also recently issued reports on SAN. ValuEngine raised Banco Santander, from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 17th. BidaskClub cut Banco Santander, from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Bank of America Corporation raised shares of Banco Santander, from an “underperform” rating to a “neutral” rating in a research report on Friday, June 9th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Banco Santander, in a report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $16.63.

Shares of Banco Santander, (NYSE:SAN) traded down 3.750% during trading on Wednesday, reaching $6.545. 6,426,492 shares of the company traded hands. The stock has a market capitalization of $100.67 billion, a PE ratio of 12.031 and a beta of 1.38. The firm’s 50-day moving average is $6.60 and its 200-day moving average is $6.54. Banco Santander, has a 12-month low of $4.23 and a 12-month high of $6.99.

Banco Santander, (NYSE:SAN) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The firm had revenue of $13.10 billion for the quarter. Banco Santander, had a net margin of 14.98% and a return on equity of 6.70%. On average, equities analysts predict that Banco Santander, will post $0.49 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its stake in Banco Santander, by 0.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 44,299 shares of the bank’s stock worth $296,000 after purchasing an additional 160 shares during the period. Winslow Evans & Crocker Inc. raised its holdings in shares of Banco Santander, by 0.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 31,158 shares of the bank’s stock valued at $208,000 after acquiring an additional 180 shares in the last quarter. Weybosset Research & Management LLC raised its holdings in shares of Banco Santander, by 0.7% in the second quarter. Weybosset Research & Management LLC now owns 34,247 shares of the bank’s stock valued at $229,000 after acquiring an additional 241 shares in the last quarter. EagleClaw Capital Managment LLC raised its holdings in shares of Banco Santander, by 0.4% in the second quarter. EagleClaw Capital Managment LLC now owns 82,920 shares of the bank’s stock valued at $554,000 after acquiring an additional 352 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Banco Santander, by 0.6% in the first quarter. HighTower Advisors LLC now owns 65,877 shares of the bank’s stock valued at $399,000 after acquiring an additional 375 shares in the last quarter. 1.30% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Banco Santander, (NYSE:SAN)

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