Banco Santander, S.A. $SAN Shares Sold by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of The State of Kentucky cut its Banco Santander stake by 12.7% in the first quarter, selling 617,150 shares and leaving it with 4,244,210 shares valued at about $47.9 million.
• Banco Santander has seen mixed but generally positive analyst sentiment: recent rating changes included upgrades from Wall Street Zen and Morgan Stanley, and the stock currently carries a Moderate Buy consensus with six Buy ratings.
• The bank reported quarterly EPS of $0.27, missing estimates, while revenue also came in slightly below forecasts; shares were recently trading near $13.87, close to their 52-week high of $14.39.

Teachers Retirement System of The State of Kentucky reduced its position in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,244,210 shares of the bank's stock after selling 617,150 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Banco Santander were worth $47,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Banco Santander by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 2,954,166 shares of the bank's stock valued at $30,960,000 after purchasing an additional 95,069 shares during the period. US Bancorp DE increased its stake in Banco Santander by 14.3% during the 4th quarter. US Bancorp DE now owns 713,050 shares of the bank's stock worth $8,364,000 after buying an additional 89,253 shares during the period. Clark Capital Management Group Inc. lifted its holdings in Banco Santander by 26.2% during the 3rd quarter. Clark Capital Management Group Inc. now owns 7,156,053 shares of the bank's stock worth $74,995,000 after buying an additional 1,485,006 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Banco Santander in the 3rd quarter valued at approximately $5,181,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Banco Santander in the third quarter worth $93,811,000. Hedge funds and other institutional investors own 9.19% of the company's stock.

Analyst Upgrades and Downgrades

SAN has been the topic of a number of recent research reports. Wall Street Zen raised Banco Santander from a "hold" rating to a "buy" rating in a research report on Sunday, April 26th. Morgan Stanley raised Banco Santander from an "equal weight" rating to an "overweight" rating in a research note on Monday, March 23rd. Santander restated a "buy" rating on shares of Banco Santander in a report on Tuesday, June 23rd. Finally, Weiss Ratings lowered Banco Santander from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, May 8th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Banco Santander Stock Down 0.0%

NYSE SAN opened at $13.87 on Monday. Banco Santander, S.A. has a 52 week low of $8.28 and a 52 week high of $14.39. The firm has a 50 day moving average of $12.80 and a two-hundred day moving average of $12.25. The stock has a market capitalization of $203.70 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.79 and a beta of 0.72.

Banco Santander (NYSE:SAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02). The firm had revenue of $17.53 billion during the quarter, compared to analyst estimates of $17.66 billion. Banco Santander had a net margin of 26.92% and a return on equity of 12.23%. On average, equities research analysts expect that Banco Santander, S.A. will post 1.11 earnings per share for the current fiscal year.

About Banco Santander

Banco Santander, SA NYSE: SAN is a Spanish multinational banking group headquartered in Santander, Spain. Founded in 1857, the bank has grown from a regional institution into one of Europe's largest banking groups, operating a diversified financial services platform that serves retail, small and medium-sized enterprises, and large corporate clients. Santander is publicly listed in Spain and maintains American Depositary Receipts on the New York Stock Exchange under the ticker SAN.

The group's core activities include retail and commercial banking—offering deposit accounts, payment services, mortgages, personal and auto loans, and small business financing—alongside corporate and investment banking services for larger institutional clients.

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