Banco Santander (NYSE:SAN) Sees Large Volume Increase - What's Next?

Banco Santander, S.A. (NYSE:SAN - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 11,885,936 shares were traded during mid-day trading, an increase of 200% from the previous session's volume of 3,962,038 shares.The stock last traded at $8.09 and had previously closed at $8.03.

Wall Street Analysts Forecast Growth

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

Banco Santander Trading Down 1.4%

The company's 50-day moving average is $7.57 and its 200-day moving average is $6.31. The firm has a market cap of $121.22 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00.

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, meeting the consensus estimate of $0.22. The company had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $15.94 billion. Banco Santander had a return on equity of 12.26% and a net margin of 16.92%. Equities research analysts forecast that Banco Santander, S.A. will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Banco Santander

Large investors have recently made changes to their positions in the stock. Westbourne Investments Inc. bought a new position in Banco Santander in the first quarter valued at $453,000. Acadian Asset Management LLC purchased a new stake in Banco Santander during the 1st quarter valued at $601,000. Geneos Wealth Management Inc. increased its position in shares of Banco Santander by 358.5% in the first quarter. Geneos Wealth Management Inc. now owns 14,177 shares of the bank's stock valued at $95,000 after acquiring an additional 11,085 shares during the period. Focus Partners Wealth raised its stake in shares of Banco Santander by 65.3% during the first quarter. Focus Partners Wealth now owns 71,169 shares of the bank's stock valued at $477,000 after acquiring an additional 28,107 shares during the last quarter. Finally, Ascent Group LLC purchased a new stake in Banco Santander in the 1st quarter worth approximately $339,000. 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.