Banco Santander, S.A. $SAN Shares Sold by Legacy Wealth Asset Management LLC

Key Points

• Legacy Wealth Asset Management LLC reduced its stake in Banco Santander, S.A. by 54.3% during the 2nd quarter, owning 103,740 shares after selling 123,489 shares.
• The Goldman Sachs Group downgraded Banco Santander from a "strong-buy" to a "strong sell" rating, while Weiss Ratings maintained a "buy (b+)" rating.
• Banco Santander announced a dividend of $0.0956 per share, yielding 196.0%, with the ex-dividend date on October 31st.

Legacy Wealth Asset Management LLC lessened its holdings in Banco Santander, S.A. (NYSE:SAN - Free Report) by 54.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,740 shares of the bank's stock after selling 123,489 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Banco Santander were worth $861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SAN. GAMMA Investing LLC grew its stake in shares of Banco Santander by 33.1% during the 1st quarter. GAMMA Investing LLC now owns 43,886 shares of the bank's stock worth $294,000 after purchasing an additional 10,916 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Banco Santander during the 1st quarter worth approximately $307,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Banco Santander by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,489 shares of the bank's stock valued at $600,000 after buying an additional 3,317 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Banco Santander during the 1st quarter valued at approximately $74,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Banco Santander by 55.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 29,707 shares of the bank's stock valued at $199,000 after buying an additional 10,559 shares in the last quarter. Institutional investors and hedge funds own 9.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SAN. The Goldman Sachs Group lowered Banco Santander from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a "buy (b+)" rating on shares of Banco Santander in a report on Wednesday, October 8th. Finally, Kepler Capital Markets lowered Banco Santander from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Banco Santander Price Performance

NYSE SAN opened at $9.85 on Tuesday. The company has a market cap of $146.55 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.67 and a beta of 1.02. The stock has a 50-day moving average of $9.88 and a two-hundred day moving average of $8.56. Banco Santander, S.A. has a 1-year low of $4.43 and a 1-year high of $10.50.

Banco Santander (NYSE:SAN - Get Free Report) last released its earnings results on Wednesday, July 30th. The bank reported $0.22 earnings per share 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 analyst estimates 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. On average, analysts anticipate that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

Banco Santander Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, November 6th. Shareholders of record on Friday, October 31st will be given a $0.0956 dividend. This represents a yield of 196.0%. The ex-dividend date of this dividend is Friday, October 31st. Banco Santander's payout ratio is currently 20.00%.

Banco Santander 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.

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