Banco Santander (NYSE:SAN) Sees Strong Trading Volume - Here's What Happened

Banco Santander, S.A. (NYSE:SAN - Get Free Report) saw strong trading volume on Monday . 10,333,867 shares changed hands during mid-day trading, an increase of 147% from the previous session's volume of 4,180,994 shares.The stock last traded at $8.53 and had previously closed at $8.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SAN shares. Citigroup started coverage on shares of Banco Santander in a report on Wednesday, June 4th. They issued a "buy" rating on the stock. Wall Street Zen upgraded Banco Santander from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Banco Santander has a consensus rating of "Buy".

Banco Santander Stock Down 3.4%

The business's fifty day moving average is $7.94 and its two-hundred day moving average is $6.61. The stock has a market cap of $129.93 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.96 and a beta of 0.99.

Banco Santander (NYSE:SAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. Banco Santander had a return on equity of 12.26% and a net margin of 16.92%. The business had revenue of $17.69 billion for the quarter, compared to analysts' expectations of $15.94 billion. As a group, sell-side analysts expect that Banco Santander, S.A. will post 0.83 earnings per share for the current year.

Institutional Trading of Banco Santander

Large investors have recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in shares of Banco Santander by 2,226.3% in the 4th quarter. Larson Financial Group LLC now owns 5,839 shares of the bank's stock valued at $27,000 after purchasing an additional 5,588 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Banco Santander during the 1st quarter worth about $28,000. WealthCollab LLC boosted its position in shares of Banco Santander by 35.1% during the 4th quarter. WealthCollab LLC now owns 7,801 shares of the bank's stock worth $36,000 after acquiring an additional 2,028 shares in the last quarter. Prospect Financial Group LLC acquired a new stake in shares of Banco Santander during the 4th quarter worth about $46,000. Finally, HUB Investment Partners LLC purchased a new stake in Banco Santander during the fourth quarter worth approximately $47,000. 9.19% of the stock is currently owned by hedge funds and other 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.