Banco Santander (NYSE:SAN) Shares Gap Up to $2.70

Banco Santander, S.A. (NYSE:SANGet Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $2.70, but opened at $2.81. Banco Santander shares last traded at $2.82, with a volume of 96,075 shares traded.

A number of equities research analysts have recently issued reports on SAN shares. Morgan Stanley boosted their price objective on Banco Santander from €4.00 ($4.17) to €4.20 ($4.38) in a report on Monday, April 4th. TheStreet upgraded shares of Banco Santander from a “d+” rating to a “c” rating in a report on Friday, February 18th. Jefferies Financial Group upgraded shares of Banco Santander from a “hold” rating to a “buy” rating in a report on Monday, March 21st. Credit Suisse Group upgraded shares of Banco Santander from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $3.30 to $4.00 in a report on Friday, April 1st. Finally, StockNews.com assumed coverage on shares of Banco Santander in a report on Thursday, March 31st. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $3.83.

The company has a market cap of $48.55 billion, a P/E ratio of 4.74 and a beta of 1.29. The stock’s 50-day moving average price is $3.08 and its 200-day moving average price is $3.30.

Banco Santander (NYSE:SANGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The bank reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $13.81 billion for the quarter, compared to analysts’ expectations of $13.31 billion. Banco Santander had a net margin of 19.12% and a return on equity of 9.25%. Equities analysts anticipate that Banco Santander, S.A. will post 0.56 EPS for the current year.

The firm also recently declared a semi-annual dividend, which was paid on Thursday, May 5th. Investors of record on Friday, April 29th were given a $0.0571 dividend. This is a boost from Banco Santander’s previous semi-annual dividend of $0.06. The ex-dividend date was Thursday, April 28th. This represents a yield of 1.1%. Banco Santander’s dividend payout ratio (DPR) is presently 12.28%.

A number of hedge funds and other institutional investors have recently made changes to their positions in SAN. West Bancorporation Inc. bought a new position in Banco Santander in the 4th quarter valued at about $25,000. Abundance Wealth Counselors purchased a new stake in Banco Santander in the 4th quarter valued at about $33,000. Aaron Wealth Advisors LLC purchased a new stake in Banco Santander in the 4th quarter valued at about $34,000. CWM LLC increased its stake in Banco Santander by 120.1% in the 1st quarter. CWM LLC now owns 9,970 shares of the bank’s stock valued at $34,000 after buying an additional 5,441 shares during the last quarter. Finally, Ieq Capital LLC purchased a new stake in Banco Santander in the 1st quarter valued at about $35,000. 8.34% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Company Profile (NYSE:SAN)

Banco Santander, SA provides various retail and commercial banking products and services to individuals, small and medium-sized enterprises, and large companies worldwide. It offers demand and time deposits, and current and savings accounts; mortgages, consumer finance, syndicated corporate loans, structured financing, cash management, export and agency finance, trade and working capital solutions, and corporate finance; and insurance products.

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