Banco Santander, S.A. $SAN Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Banco Santander stake by 29.7% in the second quarter, selling 102,415 shares and retaining 242,445 shares valued at approximately $3.35 million.
• Several other institutional investors increased their positions, including Bank of America, which raised its stake by 118.9%. Institutional investors and hedge funds collectively own 9.19% of Banco Santander.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating. Shares opened at $14.34, while the bank’s latest quarterly earnings of $0.27 per share missed estimates by $0.02 despite revenue slightly exceeding expectations.

Corient Private Wealth LP decreased its stake in Banco Santander, S.A. (NYSE:SAN - Free Report) by 29.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,445 shares of the bank's stock after selling 102,415 shares during the period. Corient Private Wealth LP's holdings in Banco Santander were worth $3,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in Banco Santander by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,037,272 shares of the bank's stock worth $211,577,000 after purchasing an additional 398,787 shares during the last quarter. Capital International Investors boosted its position in shares of Banco Santander by 1.6% in the 4th quarter. Capital International Investors now owns 14,766,849 shares of the bank's stock worth $174,839,000 after buying an additional 237,825 shares in the last quarter. Bank of America Corp DE grew its stake in Banco Santander by 118.9% in the 1st quarter. Bank of America Corp DE now owns 11,413,194 shares of the bank's stock valued at $128,741,000 after acquiring an additional 6,198,828 shares during the last quarter. Todd Asset Management LLC grew its stake in Banco Santander by 2.6% in the 4th quarter. Todd Asset Management LLC now owns 7,630,413 shares of the bank's stock valued at $89,505,000 after acquiring an additional 194,081 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Banco Santander by 37.9% during the 1st quarter. Quantinno Capital Management LP now owns 2,566,939 shares of the bank's stock valued at $28,955,000 after acquiring an additional 705,034 shares in the last quarter. 9.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SAN has been the topic of several recent research reports. Santander reaffirmed a "buy" rating on shares of Banco Santander in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Banco Santander from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Weiss Ratings lowered Banco Santander from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Banco Santander Stock Up 0.2%

Shares of Banco Santander stock opened at $14.34 on Monday. Banco Santander, S.A. has a fifty-two week low of $9.62 and a fifty-two week high of $15.05. The firm has a market cap of $210.57 billion, a PE ratio of 11.65, a P/E/G ratio of 0.71 and a beta of 0.74. The business's fifty day moving average is $14.35 and its two-hundred day moving average is $12.98.

Banco Santander (NYSE:SAN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02). Banco Santander had a net margin of 26.94% and a return on equity of 12.43%. The business had revenue of $17.93 billion during the quarter, compared to analysts' expectations of $17.90 billion. Equities research analysts anticipate that Banco Santander, S.A. will post 1.25 EPS for the current year.

Banco Santander Company Profile

Banco Santander, SA is a global banking group headquartered in Santander, Spain. Founded in 1857, the company provides financial products and services to individuals, businesses, institutions and governments through its banking operations in Europe, North America and South America.

Its principal activities include retail and commercial banking, consumer finance, corporate and investment banking, private banking, asset management, insurance and payment services. Santander offers products such as current and savings accounts, mortgages, personal loans, credit cards, business financing, investment products and digital banking services.

The group operates through established franchises in markets including Spain, the United Kingdom, Portugal, Poland, Brazil, Mexico, Chile, Argentina and the United States.

Want to see what other hedge funds are holding SAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Santander, S.A. (NYSE:SAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.