Northern Trust Corp Raises Position in Banco Santander, S.A. $SAN

Key Points

• Northern Trust Corp increased its stake in Banco Santander by 6.3% in Q1, now owning over 11.4 million shares valued at approximately $76.8 million.
• Several institutional investors like Citigroup and Chevy Chase Trust have also significantly raised their positions in Banco Santander, indicating strong institutional interest.
• Banco Santander's stock recently opened at $9.7650 and reported a 12-month high of $9.82, despite a recent earnings miss with EPS of $0.22 against the expected $0.26.

Northern Trust Corp grew its holdings in Banco Santander, S.A. (NYSE:SAN - Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,457,741 shares of the bank's stock after buying an additional 682,480 shares during the period. Northern Trust Corp owned 0.08% of Banco Santander worth $76,767,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC raised its holdings in Banco Santander by 30.5% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 11,875,594 shares of the bank's stock valued at $79,566,000 after acquiring an additional 2,774,449 shares in the last quarter. Bank of America Corp DE grew its position in Banco Santander by 19.9% during the 4th quarter. Bank of America Corp DE now owns 2,655,351 shares of the bank's stock worth $12,108,000 after acquiring an additional 440,676 shares during the last quarter. Citigroup Inc. grew its position in Banco Santander by 170.6% during the 1st quarter. Citigroup Inc. now owns 2,349,567 shares of the bank's stock worth $15,742,000 after acquiring an additional 1,481,207 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Banco Santander by 6.5% during the 1st quarter. QRG Capital Management Inc. now owns 1,935,314 shares of the bank's stock worth $12,967,000 after buying an additional 118,508 shares during the period. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Banco Santander during the 1st quarter worth about $10,181,000. 9.19% of the stock is owned by institutional investors and hedge funds.

Banco Santander Price Performance

Shares of NYSE:SAN traded down $0.13 during trading on Friday, hitting $9.55. 5,579,986 shares of the company were exchanged, compared to its average volume of 4,031,217. The company has a market cap of $142.08 billion, a PE ratio of 10.61, a P/E/G ratio of 1.07 and a beta of 1.06. The stock has a 50 day moving average of $8.86 and a 200 day moving average of $7.68. Banco Santander, S.A. has a 52-week low of $4.43 and a 52-week high of $9.82.

Banco Santander (NYSE:SAN - Get Free Report) last posted 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 company had revenue of $17.83 billion for 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%. Banco Santander has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SAN has been the topic of several recent research reports. Kepler Capital Markets downgraded Banco Santander from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Wall Street Zen raised Banco Santander from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, Citigroup assumed coverage on Banco Santander in a report on Wednesday, June 4th. They set a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Banco Santander currently has a consensus rating of "Moderate Buy".

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.