Banco Santander (NYSE:SAN) Sees Strong Trading Volume - Time to Buy?

Banco Santander, S.A. (NYSE:SAN - Get Free Report) shares saw strong trading volume on Tuesday . 15,501,542 shares were traded during trading, an increase of 310% from the previous session's volume of 3,784,623 shares.The stock last traded at $7.97 and had previously closed at $8.01.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Banco Santander in a research report on Wednesday, June 4th. They set a "buy" rating for the company. Wall Street Zen raised shares of Banco Santander from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods raised shares of Banco Santander from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy".

Banco Santander Stock Performance

The company has a market cap of $120.70 billion, a PE ratio of 9.60, a PEG ratio of 0.77 and a beta of 1.00. The company has a debt-to-equity ratio of 13.83, a quick ratio of 0.23 and a current ratio of 2.24. The firm's 50 day moving average is $7.38 and its 200-day moving average is $6.17.

Banco Santander (NYSE:SAN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The bank reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Banco Santander had a net margin of 15.88% and a return on equity of 11.90%. The business had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $15.94 billion. On average, research analysts anticipate that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Banco Santander

Several hedge funds have recently made changes to their positions in the company. Westbourne Investments Inc. acquired a new position in shares of Banco Santander in the 1st quarter worth approximately $453,000. Acadian Asset Management LLC acquired a new position in shares of Banco Santander in the 1st quarter worth approximately $601,000. Geneos Wealth Management Inc. lifted its holdings in shares of Banco Santander by 358.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 14,177 shares of the bank's stock worth $95,000 after acquiring an additional 11,085 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Banco Santander by 65.3% in the 1st quarter. Focus Partners Wealth now owns 71,169 shares of the bank's stock worth $477,000 after acquiring an additional 28,107 shares during the last quarter. Finally, Ascent Group LLC acquired a new position in shares of Banco Santander in the 1st quarter worth approximately $339,000. 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.