Ethic Inc. Purchases 148,178 Shares of Banco Santander, S.A. $SAN

Key Points

• Ethic Inc. increased its Banco Santander position by 39.1% in the third quarter, buying 148,178 shares to hold 527,302 shares valued at about $7.3 million.
• Other institutional investors also expanded holdings, and hedge funds and institutions collectively owned 9.19% of the stock.
• Analysts’ consensus rating was “Moderate Buy”, with a $15.10 average price target; some firms had recently downgraded shares to Hold.

Ethic Inc. raised its position in Banco Santander, S.A. (NYSE:SAN - Free Report) by 39.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,302 shares of the bank's stock after buying an additional 148,178 shares during the period. Ethic Inc.'s holdings in Banco Santander were worth $7,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Banco Santander by 118.9% in the first quarter. Bank of America Corp DE now owns 11,413,194 shares of the bank's stock worth $128,741,000 after acquiring an additional 6,198,828 shares in the last quarter. Quantinno Capital Management LP grew its stake in Banco Santander by 37.9% during the 1st quarter. Quantinno Capital Management LP now owns 2,566,939 shares of the bank's stock valued at $28,955,000 after purchasing an additional 705,034 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Banco Santander by 32.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,535,847 shares of the bank's stock valued at $17,324,000 after purchasing an additional 373,646 shares in the last quarter. Sei Investments Co. increased its holdings in Banco Santander by 18.3% during the 1st quarter. Sei Investments Co. now owns 956,275 shares of the bank's stock worth $10,787,000 after purchasing an additional 147,776 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Banco Santander by 9.2% during the 1st quarter. Cetera Investment Advisers now owns 703,998 shares of the bank's stock worth $7,941,000 after purchasing an additional 59,304 shares during the last quarter. 9.19% of the stock is owned by hedge funds and other institutional investors.

Banco Santander Stock Performance

NYSE:SAN opened at $12.44 on Tuesday. The company has a market capitalization of $182.66 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.78. Banco Santander, S.A. has a one year low of $10.05 and a one year high of $15.05. The stock has a 50-day simple moving average of $13.56 and a 200 day simple moving average of $12.94.

Banco Santander Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, November 5th. Shareholders of record on Friday, October 30th were issued a dividend of $0.1439 per share. This represents a yield of 257.0%. The ex-dividend date of this dividend was Friday, October 30th. Banco Santander's dividend payout ratio (DPR) is currently 16.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SAN shares. Jefferies Financial Group lowered Banco Santander from a "buy" rating to a "hold" rating in a research report on Tuesday, October 20th. Wall Street Zen downgraded shares of Banco Santander from a "buy" rating to a "hold" rating in a research report on Saturday, October 3rd. DZ Bank restated a "neutral" rating on shares of Banco Santander in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Banco Santander in a report on Monday, July 27th. Finally, Royal Bank Of Canada reiterated a "buy" rating on shares of Banco Santander in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.10.

Banco Santander Profile

Banco Santander is a Spain-based international banking group founded in 1857. Headquartered in Boadilla del Monte, Spain, it provides financial services to individuals, businesses and institutions through its banking and related businesses.

The company's services include retail and commercial banking, consumer finance, corporate and investment banking, payments, and wealth management. Its offerings include deposit accounts, loans, credit cards, and financial advice and investment services.

Santander serves customers across Europe and the Americas, with operations in markets including Spain, the United Kingdom, the United States, Brazil and Mexico.

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