Banco Santander (NYSE:SAN) Shares Gap Up – Here’s Why

Shares of Banco Santander, S.A. (NYSE:SAN) gapped up before the market opened on Thursday . The stock had previously closed at $4.69, but opened at $4.88. Banco Santander shares last traded at $4.93, with a volume of 995,911 shares.

Wall Street Analysts Forecast Growth

SAN has been the subject of several research analyst reports. StockNews.com raised shares of Banco Santander from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. UBS Group raised shares of Banco Santander from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley raised shares of Banco Santander from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 26th.

Banco Santander Stock Up 4.9 %

The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.23 and a current ratio of 0.33. The stock has a market cap of $77.86 billion, a P/E ratio of 5.86, a P/E/G ratio of 0.44 and a beta of 1.12. The stock’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $4.85.

Banco Santander Cuts Dividend

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

Hedge Funds Weigh In On Banco Santander

Several hedge funds and other institutional investors have recently made changes to their positions in SAN. Rothschild Investment LLC acquired a new position in shares of Banco Santander in the 2nd quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Banco Santander in the 3rd quarter valued at approximately $45,000. Planned Solutions Inc. acquired a new position in shares of Banco Santander in the 2nd quarter valued at approximately $47,000. AE Wealth Management LLC acquired a new position in shares of Banco Santander in the 2nd quarter valued at approximately $50,000. Finally, Groupama Asset Managment acquired a new position in shares of Banco Santander in the 3rd quarter valued at approximately $53,000. 9.19% of the stock is currently owned by institutional investors and hedge funds.

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.