Banco Santander (NYSE:SAN) Sets New 52-Week High - Here's Why

Key Points

• Banco Santander's stock reached a new 52-week high, trading at $10.29, reflecting strong market performance with over 1 million shares exchanged during trading.
• Despite recent ratings changes from analysts, Banco Santander maintains a consensus rating of "Moderate Buy" with two firms recommending a buy and two holding.
• Institutional investors have significantly increased their positions in the stock, with notable growth in holdings from firms like Lazard Asset Management and Bank of America.

Banco Santander, S.A. (NYSE:SAN - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $10.29 and last traded at $10.26, with a volume of 1081333 shares trading hands. The stock had previously closed at $10.14.

Analyst Ratings Changes

Several research firms have recently issued reports on SAN. Citigroup began coverage on shares of Banco Santander in a report on Wednesday, June 4th. They issued a "buy" rating for the company. Kepler Capital Markets lowered shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Banco Santander currently has a consensus rating of "Moderate Buy".

Banco Santander Price Performance

The stock has a market capitalization of $152.50 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 0.84 and a beta of 1.08. The company's 50-day simple moving average is $9.33 and its 200-day simple moving average is $8.09.

Banco Santander (NYSE:SAN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The bank reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.04). The company had revenue of $17.83 billion during the quarter, compared to analyst estimates of $17.69 billion. Banco Santander had a net margin of 17.30% and a return on equity of 11.98%. Banco Santander has set its FY 2025 guidance at EPS. On average, analysts forecast that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Santander

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its holdings in Banco Santander by 2,038,075.5% during the second quarter. Lazard Asset Management LLC now owns 7,643,158 shares of the bank's stock valued at $63,438,000 after purchasing an additional 7,642,783 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of Banco Santander by 30.5% during the first quarter. Chevy Chase Trust Holdings LLC now owns 11,875,594 shares of the bank's stock valued at $79,566,000 after buying an additional 2,774,449 shares during the period. Bank of America Corp DE increased its position in shares of Banco Santander by 68.5% during the second quarter. Bank of America Corp DE now owns 4,778,086 shares of the bank's stock valued at $39,658,000 after buying an additional 1,942,579 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Banco Santander by 153.5% during the second quarter. Envestnet Asset Management Inc. now owns 3,001,256 shares of the bank's stock valued at $24,910,000 after buying an additional 1,817,192 shares during the period. Finally, Barometer Capital Management Inc. increased its position in shares of Banco Santander by 5,818.8% during the second quarter. Barometer Capital Management Inc. now owns 1,757,483 shares of the bank's stock valued at $14,587,000 after buying an additional 1,727,790 shares during the period. 9.19% of the stock is 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.

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