Cerity Partners LLC Grows Stake in Banco Santander, S.A. (NYSE:SAN)

Cerity Partners LLC raised its stake in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 33.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 815,834 shares of the bank's stock after purchasing an additional 202,809 shares during the quarter. Cerity Partners LLC's holdings in Banco Santander were worth $5,466,000 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 the stock. Wayfinding Financial LLC acquired a new position in shares of Banco Santander in the 1st quarter valued at $28,000. WealthCollab LLC increased its holdings in shares of Banco Santander by 35.1% in the fourth quarter. WealthCollab LLC now owns 7,801 shares of the bank's stock valued at $36,000 after purchasing an additional 2,028 shares during the period. Prospect Financial Group LLC purchased a new position in shares of Banco Santander in the fourth quarter worth about $46,000. HUB Investment Partners LLC acquired a new stake in shares of Banco Santander during the fourth quarter worth about $47,000. Finally, Jackson Thornton Wealth Management LLC acquired a new position in Banco Santander in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 9.19% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Banco Santander from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Citigroup began coverage on shares of Banco Santander in a report on Wednesday, June 4th. They issued a "buy" rating on the stock. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy".

Banco Santander Stock Performance

Shares of SAN traded down $0.09 during trading hours on Friday, hitting $8.42. The stock had a trading volume of 4,848,623 shares, compared to its average volume of 4,404,976. The firm has a 50-day moving average price of $8.09 and a 200 day moving average price of $6.78. Banco Santander, S.A. has a fifty-two week low of $4.27 and a fifty-two week high of $8.90. The firm has a market capitalization of $127.58 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.94 and a beta of 0.99.

Banco Santander (NYSE:SAN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The bank reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $15.94 billion. Banco Santander had a return on equity of 12.26% and a net margin of 16.92%. As a group, analysts predict that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

About Banco Santander

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.