Banco Santander (NYSE:SAN) Reaches New 52-Week High - Here's Why

Key Points

• Banco Santander shares reached a new 52-week high, trading as high as $14.43 and last changing hands at $14.3550, above the previous close of $14.10. The stock’s 50-day and 200-day moving averages were $13.28 and $12.44, respectively.
• Analyst sentiment remains favorable overall, with six Buy ratings, three Holds and one Sell, resulting in a “Moderate Buy” consensus rating. However, some firms recently downgraded the stock from Buy to Hold or to a lower-tier Buy rating.
• In its latest quarter, Santander reported $0.27 in EPS, slightly below the $0.29 consensus estimate, while revenue of $17.93 billion narrowly exceeded expectations. Institutional investors owned 9.19% of the company, with several large funds increasing their stakes.

Banco Santander, S.A. (NYSE:SAN - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $14.43 and last traded at $14.3550, with a volume of 4848270 shares changing hands. The stock had previously closed at $14.10.

Wall Street Analysts Forecast Growth

SAN has been the subject of a number of research analyst reports. Santander reiterated a "buy" rating on shares of Banco Santander in a 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 downgraded Banco Santander from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Banco Santander has an average rating of "Moderate Buy".

Banco Santander Price Performance

The company's fifty day moving average is $13.28 and its 200-day moving average is $12.44. The company has a market capitalization of $211.60 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.76 and a beta of 0.72.

Banco Santander (NYSE:SAN - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). Banco Santander had a net margin of 26.94% and a return on equity of 12.43%. The company had revenue of $17.93 billion for the quarter, compared to the consensus estimate of $17.90 billion. Equities research analysts forecast that Banco Santander, S.A. will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Santander

A number of large investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its position in shares of Banco Santander by 14.3% during the fourth quarter. US Bancorp DE now owns 713,050 shares of the bank's stock worth $8,364,000 after purchasing an additional 89,253 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Banco Santander during the 3rd quarter valued at about $5,181,000. Teachers Retirement System of The State of Kentucky raised its stake in Banco Santander by 7.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 4,861,360 shares of the bank's stock valued at $57,024,000 after buying an additional 349,000 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 acquiring an additional 373,646 shares during the last quarter. Finally, Barometer Capital Management Inc. boosted its stake in Banco Santander by 203.3% in the 1st quarter. Barometer Capital Management Inc. now owns 216,600 shares of the bank's stock worth $2,414,000 after purchasing an additional 145,191 shares in the last quarter. 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.

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