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

Banco Santander, S.A. (NYSE:SAN - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $8.42 and last traded at $8.44, with a volume of 3516568 shares. The stock had previously closed at $8.27.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SAN shares. Wall Street Zen upgraded Banco Santander from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Citigroup began coverage on Banco Santander in a research note on Wednesday, June 4th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy".

Banco Santander Stock Performance

The stock has a market capitalization of $128.27 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.90 and a beta of 0.99. The company has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $6.46.

Banco Santander (NYSE:SAN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The bank reported $0.22 earnings per share for the quarter, meeting analysts' consensus estimates of $0.22. Banco Santander had a return on equity of 12.26% and a net margin of 16.92%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $15.94 billion. As a group, equities analysts predict that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Banco Santander by 62.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 105,415 shares of the bank's stock valued at $479,000 after acquiring an additional 40,438 shares during the period. Raymond James Financial Inc. bought a new position in shares of Banco Santander during the fourth quarter valued at approximately $3,319,000. GAMMA Investing LLC raised its holdings in Banco Santander by 791.8% in the 1st quarter. GAMMA Investing LLC now owns 294,036 shares of the bank's stock worth $1,970,000 after purchasing an additional 261,066 shares in the last quarter. Barclays PLC boosted its stake in shares of Banco Santander by 284.9% during the 4th quarter. Barclays PLC now owns 670,513 shares of the bank's stock valued at $3,057,000 after purchasing an additional 496,309 shares in the last quarter. Finally, Summit Global Investments increased its position in shares of Banco Santander by 69.1% during the fourth quarter. Summit Global Investments now owns 227,478 shares of the bank's stock valued at $1,037,000 after buying an additional 92,987 shares during the period. 9.19% of the stock is owned by institutional investors.

Banco Santander Company Profile

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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