Goldman Sachs Group Upgrades Banco Santander (NYSE:SAN) to Buy

Banco Santander (NYSE:SAN) was upgraded by equities researchers at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, November 24th, MarketBeat Ratings reports. The brokerage presently has a $6.20 price target on the bank’s stock. Goldman Sachs Group’s target price would suggest a potential downside of 4.62% from the stock’s current price.

Several other brokerages have also commented on SAN. Zacks Investment Research lowered shares of Banco Santander from a “buy” rating to a “hold” rating in a report on Friday, September 29th. BidaskClub lowered shares of Banco Santander from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, ValuEngine cut shares of Banco Santander from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $13.15.

Shares of Banco Santander (SAN) opened at $6.50 on Friday. Banco Santander has a twelve month low of $4.76 and a twelve month high of $6.99. The stock has a market cap of $105,386.57, a PE ratio of 13.14, a PEG ratio of 1.31 and a beta of 1.39. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 3.88.

Banco Santander (NYSE:SAN) last issued its quarterly earnings data on Thursday, October 26th. The bank reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. The firm had revenue of $14.39 billion for the quarter. Banco Santander had a net margin of 14.06% and a return on equity of 6.86%. research analysts expect that Banco Santander will post 0.55 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of Banco Santander by 690.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,573,247 shares of the bank’s stock valued at $43,975,000 after purchasing an additional 5,741,913 shares in the last quarter. Fisher Asset Management LLC lifted its position in Banco Santander by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 81,383,608 shares of the bank’s stock worth $564,802,000 after acquiring an additional 3,326,541 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Banco Santander during the 3rd quarter worth approximately $9,992,000. Senvest Management LLC acquired a new position in Banco Santander during the 2nd quarter worth approximately $8,363,000. Finally, Todd Asset Management LLC lifted its position in Banco Santander by 44.9% during the 2nd quarter. Todd Asset Management LLC now owns 3,574,941 shares of the bank’s stock worth $23,916,000 after acquiring an additional 1,107,295 shares in the last quarter. 1.26% of the stock is owned by 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.

Analyst Recommendations for Banco Santander (NYSE:SAN)

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