Banco Santander (NYSE:SAN) Shares Gap Up - Here's Why

Banco Santander, S.A. (NYSE:SAN - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $6.54, but opened at $6.76. Banco Santander shares last traded at $6.75, with a volume of 497,307 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com upgraded Banco Santander from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. The Goldman Sachs Group cut Banco Santander from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods raised Banco Santander from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

Banco Santander Stock Performance

The stock has a market cap of $101.90 billion, a P/E ratio of 8.10, a PEG ratio of 0.77 and a beta of 0.81. The company has a current ratio of 2.24, a quick ratio of 0.23 and a debt-to-equity ratio of 13.83. The company's 50-day simple moving average is $6.47 and its 200 day simple moving average is $5.42.

Banco Santander (NYSE:SAN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The bank reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Banco Santander had a return on equity of 11.90% and a net margin of 15.88%. As a group, sell-side analysts expect that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

Banco Santander Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 30th will be given a $0.1152 dividend. This is a positive change from Banco Santander's previous semi-annual dividend of $0.08. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a yield of 2.4%. Banco Santander's payout ratio is currently 19.28%.

Institutional Investors Weigh In On Banco Santander

Hedge funds have recently modified their holdings of the stock. Clarius Group LLC lifted its position in shares of Banco Santander by 47.9% during the 1st quarter. Clarius Group LLC now owns 50,364 shares of the bank's stock valued at $337,000 after buying an additional 16,316 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Banco Santander by 6.5% during the first quarter. QRG Capital Management Inc. now owns 1,935,314 shares of the bank's stock valued at $12,967,000 after purchasing an additional 118,508 shares during the last quarter. Sagespring Wealth Partners LLC increased its stake in shares of Banco Santander by 40.8% in the first quarter. Sagespring Wealth Partners LLC now owns 45,251 shares of the bank's stock worth $303,000 after purchasing an additional 13,104 shares in the last quarter. Adero Partners LLC raised its position in shares of Banco Santander by 5.4% in the first quarter. Adero Partners LLC now owns 69,738 shares of the bank's stock valued at $467,000 after purchasing an additional 3,549 shares during the period. Finally, Sowell Financial Services LLC bought a new position in Banco Santander in the 1st quarter worth approximately $74,000. Institutional investors 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.