Bruce G. Allen Investments LLC Sells 13,295 Shares of Banco Santander, S.A. (NYSE:SAN)

Bruce G. Allen Investments LLC lessened its stake in Banco Santander, S.A. (NYSE:SAN) by 57.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,996 shares of the bank’s stock after selling 13,295 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Banco Santander were worth $67,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its holdings in Banco Santander by 5.1% during the fourth quarter. FMR LLC now owns 21,953,176 shares of the bank’s stock worth $100,106,000 after buying an additional 1,059,449 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Banco Santander by 46.4% in the 4th quarter. Northern Trust Corp now owns 10,775,261 shares of the bank’s stock valued at $49,135,000 after acquiring an additional 3,413,685 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its position 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 valued at $41,501,000 after purchasing an additional 4,689,461 shares during the last quarter. Todd Asset Management LLC grew its position 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 acquiring an additional 45,326 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased 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 purchasing an additional 362,500 shares during the last quarter. 9.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on SAN. Wall Street Zen upgraded Banco Santander from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods upgraded Banco Santander from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group cut shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Citigroup began coverage on Banco Santander in a report on Wednesday, June 4th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Banco Santander Price Performance

NYSE:SAN opened at $8.04 on Monday. Banco Santander, S.A. has a 52 week low of $4.27 and a 52 week high of $8.08. The company has a quick ratio of 0.23, a current ratio of 2.24 and a debt-to-equity ratio of 13.83. The stock has a market cap of $121.83 billion, a PE ratio of 9.69, a P/E/G ratio of 0.77 and a beta of 1.00. The business’s 50-day simple moving average is $7.20 and its two-hundred day simple moving average is $6.07.

Banco Santander (NYSE:SAN) last announced its quarterly earnings results on Wednesday, April 30th. The bank reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $15.94 billion. Banco Santander had a net margin of 15.88% and a return on equity of 11.90%. As a group, analysts forecast that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

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.