Zacks Investment Research Lowers Banco Santander (SAN) to Sell
Zacks Investment Research lowered shares of Banco Santander (NYSE:SAN) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
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 research analysts have also recently issued research reports about the stock. Goldman Sachs Group reissued a neutral rating on shares of Banco Santander in a report on Tuesday, August 15th. ValuEngine cut shares of Banco Santander from a strong-buy rating to a buy rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $13.15.
Banco Santander (NYSE:SAN) last issued its earnings results on Thursday, October 26th. The bank reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. Banco Santander had a net margin of 14.06% and a return on equity of 6.86%. The business had revenue of $14.39 billion for the quarter. equities research analysts forecast that Banco Santander will post 0.55 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in SAN. Lincoln National Corp increased its holdings in shares of Banco Santander by 5.0% in the second quarter. Lincoln National Corp now owns 15,711 shares of the bank’s stock worth $105,000 after purchasing an additional 755 shares during the period. Keybank National Association OH bought a new position in shares of Banco Santander in the third quarter worth $107,000. Rhumbline Advisers bought a new position in shares of Banco Santander in the second quarter worth $108,000. Good Life Advisors LLC bought a new position in shares of Banco Santander in the second quarter worth $119,000. Finally, Park Avenue Securities LLC bought a new position in shares of Banco Santander in the third quarter worth $132,000. 1.26% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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