Ascent Group LLC Acquires New Position in Banco Santander, S.A. $SAN

Key Points

• Ascent Group LLC has acquired a new stake in Banco Santander, purchasing 50,554 shares valued at approximately $339,000.
• Several institutional investors have increased their holdings in Banco Santander, with Citigroup notably raising its position by 170.6% in the first quarter.
• Banco Santander reported a Q2 EPS of $0.22, falling short of expectations, while its revenue exceeded forecasts at $17.83 billion.

Ascent Group LLC acquired a new stake in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,554 shares of the bank's stock, valued at approximately $339,000.

Several other hedge funds have also recently made changes to their positions in SAN. Wayfinding Financial LLC purchased a new stake in Banco Santander in the 1st quarter worth about $28,000. EP Wealth Advisors LLC bought a new position in Banco Santander in the 4th quarter worth about $55,000. Larson Financial Group LLC grew its stake in Banco Santander by 63.2% in the 1st quarter. Larson Financial Group LLC now owns 9,532 shares of the bank's stock worth $64,000 after acquiring an additional 3,693 shares in the last quarter. Fulcrum Equity Management bought a new position in Banco Santander in the 4th quarter worth about $65,000. Finally, Jones Financial Companies Lllp grew its stake in Banco Santander by 271.2% in the 1st quarter. Jones Financial Companies Lllp now owns 10,276 shares of the bank's stock worth $69,000 after acquiring an additional 7,508 shares in the last quarter. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander Stock Performance

NYSE SAN traded down $0.13 on Tuesday, reaching $10.02. 1,943,994 shares of the company's stock traded hands, compared to its average volume of 5,470,609. The firm has a market cap of $149.08 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 0.82 and a beta of 1.08. The stock has a 50 day moving average price of $9.18 and a 200-day moving average price of $7.97. Banco Santander, S.A. has a fifty-two week low of $4.43 and a fifty-two week high of $10.16.

Banco Santander (NYSE:SAN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $17.83 billion for the quarter, compared to analysts' expectations 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. As a group, equities research analysts anticipate that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on SAN. Citigroup began coverage on shares of Banco Santander in a research note on Wednesday, June 4th. They issued a "buy" rating on the stock. Kepler Capital Markets downgraded shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

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.