Bank of America Corp DE Has $128.74 Million Stock Holdings in Banco Santander, S.A. $SAN

Key Points

• Bank of America more than doubled its Banco Santander position in the first quarter, adding 6.2 million shares to hold 11.4 million shares valued at approximately $128.7 million.
• Other institutional investors also increased their stakes, bringing overall institutional ownership of Santander to 9.19%.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating, although Santander recently missed quarterly EPS estimates ($0.27 versus $0.29) while slightly exceeding revenue expectations.

Bank of America Corp DE lifted its holdings in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 118.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,413,194 shares of the bank's stock after buying an additional 6,198,828 shares during the period. Bank of America Corp DE owned about 0.08% of Banco Santander worth $128,741,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SAN. AQR Capital Management LLC lifted its stake in shares of Banco Santander by 77.4% in the 1st quarter. AQR Capital Management LLC now owns 419,635 shares of the bank's stock valued at $2,812,000 after acquiring an additional 183,051 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Banco Santander by 3.7% during the first quarter. Integrated Wealth Concepts LLC now owns 71,990 shares of the bank's stock worth $482,000 after purchasing an additional 2,566 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Banco Santander by 271.2% in the first quarter. Jones Financial Companies Lllp now owns 10,276 shares of the bank's stock valued at $69,000 after buying an additional 7,508 shares during the period. Focus Partners Wealth boosted its position in Banco Santander by 65.3% during the 1st quarter. Focus Partners Wealth now owns 71,169 shares of the bank's stock worth $477,000 after buying an additional 28,107 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Banco Santander during the 1st quarter worth approximately $601,000. Institutional investors own 9.19% of the company's stock.

Analysts Set New Price Targets

SAN has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Banco Santander from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Santander reiterated a "buy" rating on shares of Banco Santander in a research report on Tuesday, June 23rd. Finally, Weiss Ratings lowered shares of Banco Santander from a "buy (a-)" rating to a "buy (b+)" rating in a report on Wednesday, July 29th. Six equities research 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's stock. According to MarketBeat, Banco Santander presently has a consensus rating of "Moderate Buy".

Banco Santander Price Performance

NYSE SAN opened at $14.62 on Friday. The stock has a market capitalization of $214.82 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.79 and a beta of 0.73. Banco Santander, S.A. has a one year low of $8.99 and a one year high of $14.93. The business's fifty day moving average is $13.45 and its 200-day moving average is $12.51.

Banco Santander (NYSE:SAN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). The firm had revenue of $17.93 billion for the quarter, compared to the consensus estimate of $17.90 billion. Banco Santander had a return on equity of 12.43% and a net margin of 26.94%. Research analysts expect that Banco Santander, S.A. will post 1.15 EPS for the current fiscal year.

Banco Santander Company Profile

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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