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

Banco Santander, S.A. (NYSE:SAN)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $4.88, but opened at $4.71. Banco Santander shares last traded at $4.68, with a volume of 603,361 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on SAN. StockNews.com raised Banco Santander from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. UBS Group upgraded shares of Banco Santander from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley upgraded shares of Banco Santander from an “equal weight” rating to an “overweight” rating in a report on Tuesday, November 26th.

Banco Santander Stock Down 4.3 %

The company has a quick ratio of 0.23, a current ratio of 0.33 and a debt-to-equity ratio of 3.08. The stock has a 50 day simple moving average of $4.85 and a 200 day simple moving average of $4.83. The stock has a market cap of $73.91 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.46 and a beta of 1.12.

Banco Santander Cuts Dividend

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

Institutional Trading of Banco Santander

Several institutional investors and hedge funds have recently modified their holdings of SAN. Fisher Asset Management LLC lifted its position in shares of Banco Santander by 1.4% during the third quarter. Fisher Asset Management LLC now owns 143,585,152 shares of the bank’s stock valued at $732,284,000 after purchasing an additional 2,011,150 shares in the last quarter. FMR LLC increased its position in shares of Banco Santander by 33.9% during the third quarter. FMR LLC now owns 20,893,727 shares of the bank’s stock valued at $106,558,000 after acquiring an additional 5,290,236 shares during the last quarter. Groupama Asset Managment bought a new stake in Banco Santander during the third quarter worth $53,000. Teachers Retirement System of The State of Kentucky grew its stake in Banco Santander by 5.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 5,066,760 shares of the bank’s stock valued at $23,459,000 after purchasing an additional 242,000 shares during the period. Finally, Chevy Chase Trust Holdings LLC purchased a new stake in shares of Banco Santander during the 3rd quarter valued at $22,500,000. 9.19% of the stock is owned by hedge funds and other institutional investors.

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.