Banco Santander (NYSE:SAN) Hits New 12-Month High – Here’s Why

Shares of Banco Santander, S.A. (NYSE:SAN) hit a new 52-week high during trading on Thursday . The company traded as high as $15.00 and last traded at $15.00, with a volume of 6235656 shares traded. The stock had previously closed at $14.75.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Santander reiterated a “buy” rating on shares of Banco Santander in a research report on Tuesday, June 23rd. Wall Street Zen downgraded shares of Banco Santander from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings lowered shares of Banco Santander from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Banco Santander Stock Up 1.6%

The firm has a market capitalization of $220.19 billion, a PE ratio of 12.19, a P/E/G ratio of 0.71 and a beta of 0.74. The firm’s 50-day moving average price is $14.13 and its two-hundred day moving average price is $12.79.

Banco Santander (NYSE:SAN) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Banco Santander had a return on equity of 12.43% and a net margin of 26.94%.The firm had revenue of $17.93 billion for the quarter, compared to analysts’ expectations of $17.90 billion. Equities research analysts forecast that Banco Santander, S.A. will post 1.25 EPS for the current year.

Hedge Funds Weigh In On Banco Santander

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Banco Santander by 32.1% during the first quarter. Bank of New York Mellon Corp now owns 1,535,847 shares of the bank’s stock worth $17,324,000 after purchasing an additional 373,646 shares during the last quarter. Sei Investments Co. raised its stake in shares of Banco Santander by 18.3% in the first quarter. Sei Investments Co. now owns 956,275 shares of the bank’s stock valued at $10,787,000 after acquiring an additional 147,776 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Banco Santander by 37.9% in the 1st quarter. Quantinno Capital Management LP now owns 2,566,939 shares of the bank’s stock worth $28,955,000 after acquiring an additional 705,034 shares in the last quarter. Barometer Capital Management Inc. lifted its stake in Banco Santander by 203.3% in the first quarter. Barometer Capital Management Inc. now owns 216,600 shares of the bank’s stock valued at $2,414,000 after buying an additional 145,191 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Banco Santander by 257.4% in the first quarter. Assetmark Inc. now owns 399,352 shares of the bank’s stock valued at $4,505,000 after purchasing an additional 287,621 shares during the period. 9.19% of the stock is currently owned by institutional investors.

Banco Santander Company Profile

Banco Santander, SA (NYSE: SAN) is a Spanish multinational banking group headquartered in Santander, Spain. Founded in 1857, the bank has grown from a regional institution into one of Europe’s largest banking groups, operating a diversified financial services platform that serves retail, small and medium-sized enterprises, and large corporate clients. Santander is publicly listed in Spain and maintains American Depositary Receipts on the New York Stock Exchange under the ticker SAN.

The group’s core activities include retail and commercial banking—offering deposit accounts, payment services, mortgages, personal and auto loans, and small business financing—alongside corporate and investment banking services for larger institutional clients.