Banco Santander (NYSE:SAN) Sets New 1-Year High - What's Next?

Key Points

• Banco Santander's stock recently reached a new 52-week high of $9.42, indicating positive market performance with a significant trading volume of over 2.8 million shares.
• Wall Street analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" driven by five buy ratings and two hold ratings from various analysts.
• Despite a revenue beat in its latest quarterly earnings report, Banco Santander missed EPS estimates, reporting $0.22 against the expected $0.26.

Banco Santander, S.A. (NYSE:SAN - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $9.42 and last traded at $9.39, with a volume of 2854533 shares. The stock had previously closed at $9.32.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SAN shares. Wall Street Zen upgraded Banco Santander from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Kepler Capital Markets cut shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, Citigroup started coverage on Banco Santander in a research note on Wednesday, June 4th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Banco Santander Stock Up 0.8%

The stock's fifty day moving average price is $8.45 and its two-hundred day moving average price is $7.30. The company has a market capitalization of $139.77 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

Banco Santander (NYSE:SAN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.22 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.04). Banco Santander had a return on equity of 11.98% and a net margin of 17.30%. The company had revenue of $17.83 billion during the quarter, compared to analysts' expectations of $17.69 billion. On average, equities research analysts forecast that Banco Santander, S.A. will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Banco Santander

Several institutional investors and hedge funds have recently made changes to their positions in SAN. Richardson Financial Services Inc. bought a new stake in Banco Santander in the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. purchased a new position in shares of Banco Santander during the 2nd quarter valued at $30,000. Atlantic Union Bankshares Corp purchased a new position in shares of Banco Santander during the 2nd quarter valued at $30,000. Dogwood Wealth Management LLC purchased a new position in shares of Banco Santander during the 2nd quarter valued at $33,000. Finally, Smithfield Trust Co purchased a new position in shares of Banco Santander during the 2nd quarter valued at $30,000. Institutional investors own 9.19% of the company's stock.

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.

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