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

Banco Santander, S.A. (NYSE:SAN) shares gapped down before the market opened on Friday . The stock had previously closed at $4.74, but opened at $4.53. Banco Santander shares last traded at $4.54, with a volume of 1,006,353 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group raised Banco Santander from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 4th. StockNews.com lowered Banco Santander from a “buy” rating to a “hold” rating in a research note on Wednesday.

Banco Santander Stock Performance

The firm has a market capitalization of $72.01 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 0.45 and a beta of 1.14. The firm’s 50-day moving average price is $4.94 and its two-hundred day moving average price is $4.88. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.23 and a current ratio of 0.33.

Banco Santander Cuts Dividend

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

Hedge Funds Weigh In On Banco Santander

Hedge funds have recently modified their holdings of the stock. Coldstream Capital Management Inc. grew its position in Banco Santander by 81.1% in the third quarter. Coldstream Capital Management Inc. now owns 20,481 shares of the bank’s stock valued at $104,000 after acquiring an additional 9,170 shares during the period. M&T Bank Corp grew its holdings in shares of Banco Santander by 7.3% in the 3rd quarter. M&T Bank Corp now owns 100,349 shares of the bank’s stock worth $511,000 after purchasing an additional 6,829 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Banco Santander during the 3rd quarter worth about $647,000. Groupama Asset Managment bought a new position in Banco Santander during the 3rd quarter valued at about $53,000. Finally, MML Investors Services LLC grew its stake in Banco Santander by 12.4% during the third quarter. MML Investors Services LLC now owns 153,335 shares of the bank’s stock worth $782,000 after buying an additional 16,869 shares during the last quarter. 9.19% of the stock is owned by institutional investors and hedge funds.

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.