Banco Santander (NYSE:SAN) Upgraded by The Goldman Sachs Group to "Strong-Buy" Rating

Key Points

• Banco Santander has been upgraded to a "strong-buy" rating by The Goldman Sachs Group, signaling increased investor confidence in the bank's stock.
• Despite the upgrade, analysts have mixed opinions with one rating it a "hold" and others giving it a "buy", resulting in an overall average rating of "buy".
• In its latest earnings report, Banco Santander reported an EPS of $0.22, missing analysts' expectations, while generating revenues of $17.83 billion for the quarter.

Banco Santander (NYSE:SAN - Get Free Report) was upgraded by The Goldman Sachs Group to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

SAN has been the topic of several other research reports. Kepler Capital Markets cut shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Citigroup began coverage on shares of Banco Santander in a report on Wednesday, June 4th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy".

Banco Santander Price Performance

Shares of NYSE SAN opened at $10.38 on Thursday. Banco Santander has a one year low of $4.43 and a one year high of $10.40. The firm's 50 day simple moving average is $9.48 and its two-hundred day simple moving average is $8.17. The stock has a market capitalization of $154.51 billion, a P/E ratio of 11.53, a PEG ratio of 0.84 and a beta of 1.08.

Banco Santander (NYSE:SAN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The bank reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.04). Banco Santander had a net margin of 17.30% and a return on equity of 11.98%. The business had revenue of $17.83 billion for the quarter, compared to the consensus estimate of $17.69 billion. Banco Santander has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Banco Santander will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Banco Santander

Several large investors have recently added to or reduced their stakes in SAN. Lazard Asset Management LLC lifted its position in Banco Santander by 2,038,075.5% during the second quarter. Lazard Asset Management LLC now owns 7,643,158 shares of the bank's stock valued at $63,438,000 after buying an additional 7,642,783 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in Banco Santander by 30.5% during the first quarter. Chevy Chase Trust Holdings LLC now owns 11,875,594 shares of the bank's stock valued at $79,566,000 after buying an additional 2,774,449 shares during the period. Bank of America Corp DE lifted its position in Banco Santander by 68.5% during the second quarter. Bank of America Corp DE now owns 4,778,086 shares of the bank's stock valued at $39,658,000 after buying an additional 1,942,579 shares during the period. Envestnet Asset Management Inc. lifted its position in Banco Santander by 153.5% during the second quarter. Envestnet Asset Management Inc. now owns 3,001,256 shares of the bank's stock valued at $24,910,000 after buying an additional 1,817,192 shares during the period. Finally, Barometer Capital Management Inc. lifted its position in Banco Santander by 5,818.8% during the second quarter. Barometer Capital Management Inc. now owns 1,757,483 shares of the bank's stock valued at $14,587,000 after buying an additional 1,727,790 shares during the period. Institutional investors own 9.19% of the company's stock.

Banco Santander Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.