Banco Santander (NYSE:SAN) Shares Gap Down - Time to Sell?

Banco Santander, S.A. (NYSE:SAN - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $8.32, but opened at $8.02. Banco Santander shares last traded at $8.05, with a volume of 1,512,811 shares traded.

Wall Street Analyst Weigh In

SAN has been the topic of several research reports. Keefe, Bruyette & Woods upgraded shares of Banco Santander from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 24th. Wall Street Zen upgraded Banco Santander from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, Citigroup initiated coverage on Banco Santander in a research report on Wednesday, June 4th. They issued a "buy" rating for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Banco Santander presently has an average rating of "Buy".

Banco Santander Stock Performance

The company has a fifty day moving average of $7.44 and a two-hundred day moving average of $6.22. The company has a debt-to-equity ratio of 13.83, a current ratio of 2.24 and a quick ratio of 0.23. The stock has a market capitalization of $122.05 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 0.77 and a beta of 1.00.

Banco Santander (NYSE:SAN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The bank reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Banco Santander had a return on equity of 11.90% and a net margin of 15.88%. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $15.94 billion. On average, equities analysts anticipate that Banco Santander, S.A. will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Banco Santander

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in Banco Santander by 15.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 109,187 shares of the bank's stock valued at $490,000 after buying an additional 14,894 shares during the period. Principal Securities Inc. increased its holdings in shares of Banco Santander by 13.4% in the 4th quarter. Principal Securities Inc. now owns 17,230 shares of the bank's stock valued at $79,000 after purchasing an additional 2,032 shares during the period. Strategic Financial Concepts LLC purchased a new position in Banco Santander in the fourth quarter valued at about $62,000. Sierra Ocean LLC bought a new stake in Banco Santander in the fourth quarter worth approximately $32,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Banco Santander during the 4th quarter worth about $55,000. Institutional investors and hedge funds own 9.19% of the company's stock.

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.

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