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Santander Bank (NYSE: SANGet a rating) has been upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Tuesday to investors, Zacks.com reports. The company currently has a $3.00 price target on the bank’s stock. Zacks Investment ResearchThe company’s price target would suggest a potential upside of 3.09% from the company’s previous close.

According to Zacks, “Banco Santander SA is the largest bank in Spain and the largest international bank in Latin America as well. The Bank concentrates its activities in Andalusia, Castile-Leon, Catalonia, Madrid, Valencia and Cantabria. The Bank provides retail and corporate banking, leasing, factoring, stock exchange and mutual fund services. “

Other stock analysts have also recently published research reports on the company. Deutsche Bank Aktiengesellschaft raised its price target on Banco Santander from €3.90 ($4.06) to €4.20 ($4.38) and gave the company a “buy” rating in a report from the Thursday, March 31st. Societe Generale raised its price target on Banco Santander shares from €4.00 ($4.17) to €4.10 ($4.27) and assigned the stock a “buy” rating in a research report of Thursday, April 28. Jefferies Financial Group upgraded Banco Santander shares from a “hold” rating to a “buy” rating in a Monday, March 21 research note. StockNews.com began covering Banco Santander in a research note on Thursday, March 31. They issued a “buy” rating on the stock. Finally, Goldman Sachs Group began covering Banco Santander in a research note on Thursday, March 31. They set a “buy” rating and a price target of €5.00 ($5.21) for the company. Six analysts gave the stock a hold rating and eight gave the stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3.79.

Shares of NYSE: SAN traded at $0.08 in midday trading on Tuesday, hitting $2.91. The stock recorded a trading volume of 219,957 shares, compared to an average volume of 7,281,547 shares. The company’s 50-day moving average is $3.22 and its 200-day moving average is $3.38. Banco Santander has a 12-month low of $2.68 and a 12-month high of $4.38. The company has a debt ratio of 13.98, a quick ratio of 2.63 and a current ratio of 2.63. The company has a market capitalization of $50.46 billion, a PE ratio of 5.12 and a beta of 1.30.

Santander Bank (NYSE: SANGet a rating) last reported results on Tuesday, April 26. The bank reported EPS of $0.16 for the quarter, beating the consensus estimate of $0.14 by $0.02. The company posted revenue of $13.81 billion in the quarter, compared to $13.31 billion expected by analysts. Banco Santander achieved a return on equity of 9.25% and a net margin of 19.12%. On average, equity research analysts expect Banco Santander to post an EPS of 0.59 for the current fiscal year.

Several hedge funds have recently changed their positions in the company. Qube Research & Technologies Ltd acquired a new position in Banco Santander during the fourth quarter worth approximately $79,000. UMB Bank NA MO bought a new position in shares of Banco Santander during the fourth quarter worth $201,000. Fisher Asset Management LLC increased its holdings of Banco Santander shares by 4.5% in the fourth quarter. Fisher Asset Management LLC now owns 129,760,624 shares of the bank valued at $426,912,000 after purchasing an additional 5,545,821 shares during the period. BlackRock Inc. increased its position in Banco Santander shares by 4.8% in the third quarter. BlackRock Inc. now owns 3,728,755 shares of the bank valued at $13,498,000 after buying an additional 171,121 shares last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Banco Santander by 4.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 133,291 shares of the bank worth $438,000 after acquiring 6,088 additional shares last quarter. 8.34% of the shares are held by institutional investors.

About Banco Santander (Get a rating)

Banco Santander, SA provides various retail and commercial banking products and services to individuals, small and medium enterprises and large corporations worldwide. It offers demand and term deposits, as well as current and savings accounts; mortgages, consumer credit, syndicated corporate loans, structured finance, cash management, export and agency finance, trade and working capital solutions, and corporate finance; and insurance products.

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