Banco Santander (NYSE:SAN) Reaches New 12-Month High - What's Next?

Key Points

• Banco Santander reached a new 52-week high share price of $9.06, reflecting increased trading activity with a volume of 432,195 shares.
• Equities analysts have a moderate buy outlook on the stock, with varying ratings including two holds, three buys, and one strong buy.
• Despite having a revenue of $17.83 billion for the quarter, Banco Santander reported an earnings per share (EPS) of $0.22, missing the consensus estimate.

Banco Santander, S.A. (NYSE:SAN - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $9.03 and last traded at $9.06, with a volume of 432195 shares changing hands. The stock had previously closed at $8.87.

Analysts Set New Price Targets

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

Banco Santander Stock Performance

The stock has a 50-day moving average of $8.40 and a two-hundred day moving average of $7.26. The company has a market cap of $138.66 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

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

Institutional Investors Weigh In On Banco Santander

Large investors have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. bought a new position in shares of Banco Santander during the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. purchased a new position in Banco Santander during the 2nd quarter worth $30,000. Atlantic Union Bankshares Corp purchased a new stake in Banco Santander in the second quarter valued at about $30,000. Dogwood Wealth Management LLC purchased a new stake in shares of Banco Santander during the second quarter worth about $33,000. Finally, Smithfield Trust Co purchased a new stake in shares of Banco Santander during the second quarter worth about $30,000. 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.