Banco Santander (NYSE:SAN) Hits New 1-Year High - Here's Why

Key Points

• Banco Santander's stock reached a new 52-week high of $10.14 on Monday, with a last traded price of $10.13 and a volume of 421,364 shares.
• Despite hitting a high, Kepler Capital Markets downgraded the stock from "strong-buy" to "hold," while other analysts maintain a consensus rating of "Moderate Buy."
• Institutional investors have been active, with multiple hedge funds recently purchasing shares in Banco Santander, collectively holding 9.19% of the company's stock.

Banco Santander, S.A. (NYSE:SAN - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $10.14 and last traded at $10.13, with a volume of 421364 shares. The stock had previously closed at $10.05.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SAN. Kepler Capital Markets lowered shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Citigroup initiated coverage on shares of Banco Santander in a report on Wednesday, June 4th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Banco Santander Trading Up 1.0%

The firm has a market capitalization of $151.16 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 0.82 and a beta of 1.08. The company's fifty day simple moving average is $9.15 and its 200 day simple moving average is $7.94.

Banco Santander (NYSE:SAN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.04). The company had revenue of $17.83 billion during the quarter, compared to the consensus estimate of $17.69 billion. Banco Santander had a return on equity of 11.98% and a net margin of 17.30%. Banco Santander has set its FY 2025 guidance at EPS. On average, analysts predict that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Santander

Institutional investors and hedge funds have recently made changes to their positions in the business. Richardson Financial Services Inc. purchased a new position in shares of Banco Santander in the second quarter worth approximately $25,000. Wayfinding Financial LLC purchased a new position in shares of Banco Santander in the first quarter worth approximately $28,000. Westside Investment Management Inc. purchased a new position in shares of Banco Santander in the second quarter worth approximately $30,000. Atlantic Union Bankshares Corp purchased a new position in shares of Banco Santander in the second quarter worth approximately $30,000. Finally, Smithfield Trust Co purchased a new position in Banco Santander during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 9.19% of the company's stock.

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.

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