Banco Santander (NYSE:SAN) Cut to Strong Sell at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Banco Santander (NYSE:SAN) from a strong-buy rating to a strong sell rating in a research note released on Thursday morning,Zacks.com reports.

SAN has been the topic of several other reports. Kepler Capital Markets cut Banco Santander from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Banco Santander in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Banco Santander Stock Down 1.3%

Shares of SAN opened at $9.77 on Thursday. The business’s 50 day moving average price is $9.87 and its 200-day moving average price is $8.52. Banco Santander has a 52 week low of $4.43 and a 52 week high of $10.50. The stock has a market cap of $145.43 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.67 and a beta of 1.02.

Banco Santander (NYSE:SAN) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.04). The business had revenue of $17.83 billion during the quarter, compared to the consensus estimate of $17.69 billion. Banco Santander had a net margin of 17.30% and a return on equity of 11.98%. Banco Santander has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Banco Santander will post 0.83 EPS for the current year.

Banco Santander Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, November 6th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.0956 per share. The ex-dividend date is Friday, October 31st. This represents a yield of 196.0%. Banco Santander’s payout ratio is currently 20.00%.

Institutional Investors Weigh In On Banco Santander

A number of hedge funds have recently added to or reduced their stakes in SAN. Lazard Asset Management LLC increased its stake in shares of Banco Santander by 2,038,075.5% in the 2nd quarter. Lazard Asset Management LLC now owns 7,643,158 shares of the bank’s stock worth $63,438,000 after purchasing an additional 7,642,783 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in shares of Banco Santander by 30.5% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 11,875,594 shares of the bank’s stock worth $79,566,000 after purchasing an additional 2,774,449 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Banco Santander by 68.5% in the 2nd quarter. Bank of America Corp DE now owns 4,778,086 shares of the bank’s stock worth $39,658,000 after purchasing an additional 1,942,579 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Banco Santander by 153.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,001,256 shares of the bank’s stock worth $24,910,000 after purchasing an additional 1,817,192 shares in the last quarter. Finally, Barometer Capital Management Inc. increased its stake in shares of Banco Santander by 5,818.8% in the 2nd quarter. Barometer Capital Management Inc. now owns 1,757,483 shares of the bank’s stock worth $14,587,000 after purchasing an additional 1,727,790 shares in the last quarter. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Santander

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.