Banco Santander (NYSE:SAN) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Banco Santander (NYSE:SAN) from a buy rating to a hold rating in a research report sent to investors on Friday.

Separately, UBS Group upgraded shares of Banco Santander from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 4th.

Banco Santander Stock Performance

Shares of NYSE SAN opened at $4.95 on Friday. The firm has a 50 day moving average of $4.95 and a 200 day moving average of $4.89. The company has a current ratio of 0.33, a quick ratio of 0.23 and a debt-to-equity ratio of 3.08. The firm has a market capitalization of $78.34 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.14. Banco Santander has a 12-month low of $3.71 and a 12-month high of $5.27.

Banco Santander Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Thursday, October 31st will be given a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a dividend yield of 3%. Banco Santander’s payout ratio is currently 20.00%.

Hedge Funds Weigh In On Banco Santander

A number of hedge funds have recently modified their holdings of SAN. Allspring Global Investments Holdings LLC bought a new position in shares of Banco Santander in the first quarter worth approximately $157,000. Norden Group LLC bought a new position in shares of Banco Santander in the first quarter worth approximately $52,000. Sequoia Financial Advisors LLC boosted its position in shares of Banco Santander by 4.2% in the first quarter. Sequoia Financial Advisors LLC now owns 122,132 shares of the bank’s stock worth $591,000 after purchasing an additional 4,939 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Banco Santander by 33.3% in the first quarter. BNP Paribas Financial Markets now owns 1,430,296 shares of the bank’s stock worth $6,923,000 after purchasing an additional 357,460 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Banco Santander in the first quarter worth $200,000. 9.19% of the stock is currently owned by 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.