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

Banco Santander, S.A. (NYSE:SAN - Get Free Report)'s share price gapped up prior to trading 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.

Analysts Set New Price Targets

A number of research firms have commented on SAN. 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 shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods raised shares of Banco Santander from a "hold" rating to a "moderate buy" rating in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy".

Banco Santander Price Performance

The business's 50-day simple moving average is $6.47 and its two-hundred day simple moving average is $5.42. The stock has a market cap of $101.90 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 0.77 and a beta of 0.81. The company has a debt-to-equity ratio of 13.83, a current ratio of 2.24 and a quick ratio of 0.23.

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

Banco Santander Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 30th will be paid a $0.1152 dividend. This is a boost 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 dividend yield of 2.4%. Banco Santander's payout ratio is currently 19.28%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in Banco Santander by 5.1% during the 4th quarter. FMR LLC now owns 21,953,176 shares of the bank's stock worth $100,106,000 after purchasing an additional 1,059,449 shares during the last quarter. Northern Trust Corp boosted its position in shares of Banco Santander by 46.4% during the 4th quarter. Northern Trust Corp now owns 10,775,261 shares of the bank's stock valued at $49,135,000 after purchasing an additional 3,413,685 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its stake in Banco Santander by 106.3% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 9,101,145 shares of the bank's stock worth $41,501,000 after purchasing an additional 4,689,461 shares during the period. Todd Asset Management LLC increased its holdings in Banco Santander by 0.5% in the fourth quarter. Todd Asset Management LLC now owns 8,896,192 shares of the bank's stock worth $40,567,000 after purchasing an additional 45,326 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Banco Santander by 7.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 5,429,260 shares of the bank's stock valued at $24,757,000 after acquiring an additional 362,500 shares during the period. 9.19% of the stock is owned by institutional investors.

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.