5 Best Penny Stocks To Buy Now

In this article, we will look at the 5 best penny stocks to buy now. If you want to explore similar stocks, you can also take a look at 16 Best Penny Stocks To Buy Now.

5. Banco Santander, S.A. (NYSE:SAN)

Share Price as of October 21: $2.62

Number of Hedge Fund Holders: 15

Banco Santander, S.A. (NYSE:SAN) is a Spanish bank that offers a variety of banking products and services for individuals, businesses, and institutions. The bank has a strong presence in Europe, Latin America, and the United States. The bank is well–positioned to benefit from the growth of the Spanish economy and the continued expansion of its banking operations in Latin America and the United States and is ranked high among the best penny stocks to buy now.

Shares of Banco Santander, S.A. (NYSE:SAN) have been on a tear lately and the stock appears to be trading at bargain levels. As of October 21, Banco Santander, S.A. (NYSE:SAN) is trading at a PE multiple of 5x and is offering a forward dividend yield of 4.26%.

On September 27, Citi analyst Marta Romero upgraded Banco Santander, S.A. (NYSE:SAN) to Buy from Neutral and raised his price target on the shares to EUR 3.50 from EUR 3.20. On October 10, Credit Suisse analyst Pamela Zuluaga raised her price target on Banco Santander, S.A. (NYSE:SAN) to EUR 4.10 from EUR 4 and maintained an Outperform rating on the shares.

At the end of Q2 2022, 15 hedge funds were long Banco Santander, S.A. (NYSE:SAN) and held stakes worth $494.4 million in the company. Of those, Ariel Investments was the leading shareholder in Banco Santander, S.A. (NYSE:SAN) and held stakes worth $16.87 million in the company.