Citigroup Inc. Buys 1,481,207 Shares of Banco Santander, S.A. (NYSE:SAN)

Citigroup Inc. increased its stake in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 170.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,349,567 shares of the bank's stock after buying an additional 1,481,207 shares during the quarter. Citigroup Inc.'s holdings in Banco Santander were worth $15,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Banco Santander during the 1st quarter valued at about $28,000. WealthCollab LLC boosted its stake in Banco Santander by 35.1% during the 4th 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. EP Wealth Advisors LLC bought a new stake in Banco Santander during the 4th quarter valued at approximately $55,000. Two Sigma Securities LLC bought a new stake in shares of Banco Santander in the 4th quarter worth approximately $61,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Banco Santander in the 4th quarter worth approximately $63,000. Institutional investors own 9.19% of the company's stock.

Banco Santander Stock Performance

Shares of SAN traded up $0.01 during trading hours on Friday, reaching $9.63. The stock had a trading volume of 2,653,198 shares, compared to its average volume of 4,836,558. The stock has a market capitalization of $143.35 billion, a PE ratio of 10.70, a PEG ratio of 1.08 and a beta of 1.06. Banco Santander, S.A. has a 12 month low of $4.43 and a 12 month high of $9.70. The company's 50-day moving average is $8.55 and its two-hundred day moving average is $7.39.

Banco Santander (NYSE:SAN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.04). The company had revenue of $17.83 billion for 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%. Equities analysts anticipate that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SAN shares. Wall Street Zen upgraded Banco Santander from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Citigroup began coverage on Banco Santander in a research note on Wednesday, June 4th. They set a "buy" rating for the company. Finally, Kepler Capital Markets cut Banco Santander from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy".

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.