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

Banco Santander, S.A. (NYSE:SAN - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 10,333,867 shares changed hands during 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

A number of brokerages recently weighed in on SAN. Citigroup began coverage on Banco Santander in a research report on Wednesday, June 4th. They set a "buy" rating on the stock. Wall Street Zen raised 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Banco Santander presently has a consensus rating of "Buy".

Banco Santander Price Performance

The firm has a market cap of $134.55 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 0.92 and a beta of 0.99. The firm has a fifty day simple moving average of $7.90 and a two-hundred day simple moving average of $6.60.

Banco Santander (NYSE:SAN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The bank reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $15.94 billion. Banco Santander had a return on equity of 12.26% and a net margin of 16.92%. Equities analysts anticipate that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Banco Santander by 2,226.3% in the fourth quarter. Larson Financial Group LLC now owns 5,839 shares of the bank's stock worth $27,000 after purchasing an additional 5,588 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Banco Santander in the first quarter worth about $28,000. WealthCollab LLC raised its stake in shares of Banco Santander by 35.1% in the fourth quarter. WealthCollab LLC now owns 7,801 shares of the bank's stock worth $36,000 after purchasing an additional 2,028 shares during the last quarter. Prospect Financial Group LLC purchased a new position in shares of Banco Santander in the fourth quarter worth about $46,000. Finally, HUB Investment Partners LLC purchased a new position in shares of Banco Santander in the fourth quarter worth about $47,000. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

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.