ICONIQ Capital LLC Increases Stock Holdings in Banco Santander, S.A. $SAN

Key Points

• ICONIQ Capital LLC increased its stake in Banco Santander, S.A. by 56.0% in the first quarter, owning a total of 74,743 shares valued at approximately $501,000.
• Several institutional investors, including HBK Sorce Advisory LLC and WealthCollab LLC, have also raised their positions in Banco Santander, resulting in a combined ownership of 9.19% of the stock by hedge funds and institutional investors.
• Analyst ratings for Banco Santander have varied, with one analyst upgrading the stock to a "buy" rating and others maintaining a consensus of "Moderate Buy", despite a recent downgrade from Kepler Capital Markets to a "hold" rating.

ICONIQ Capital LLC grew its position in Banco Santander, S.A. (NYSE:SAN - Free Report) by 56.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,743 shares of the bank's stock after acquiring an additional 26,842 shares during the quarter. ICONIQ Capital LLC's holdings in Banco Santander were worth $501,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Banco Santander during the first quarter worth $28,000. WealthCollab LLC lifted its holdings in shares of Banco Santander by 35.1% during the fourth quarter. WealthCollab LLC now owns 7,801 shares of the bank's stock worth $36,000 after purchasing an additional 2,028 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Banco Santander during the fourth quarter worth $55,000. Two Sigma Securities LLC acquired a new stake in shares of Banco Santander during the fourth quarter worth $61,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Banco Santander by 63.2% during the first quarter. Larson Financial Group LLC now owns 9,532 shares of the bank's stock worth $64,000 after purchasing an additional 3,693 shares during the period. 9.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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 report on Tuesday, May 13th. Finally, Citigroup started coverage on Banco Santander in a report on Wednesday, June 4th. They set a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Banco Santander Stock Performance

Banco Santander stock traded down $0.13 during midday trading on Friday, reaching $9.55. The company's stock had a trading volume of 5,579,986 shares, compared to its average volume of 4,031,217. Banco Santander, S.A. has a fifty-two week low of $4.43 and a fifty-two week high of $9.82. The stock's 50 day simple moving average is $8.86 and its 200 day simple moving average is $7.68. The firm has a market capitalization of $142.08 billion, a PE ratio of 10.61, a P/E/G ratio of 1.07 and a beta of 1.06.

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

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.