Lazard Asset Management LLC Decreases Stock Holdings in Banco Santander, S.A. $SAN

Key Points

• Lazard Asset Management cut its Banco Santander stake by 5.6% in the first quarter, selling 494,990 shares and retaining 8.39 million shares worth approximately $94.6 million. Institutional investors and hedge funds collectively own 9.19% of the stock.
• Banco Santander shares rose 3.2% to $13.98, near their 52-week high of $14.39. The bank reported quarterly revenue of $17.93 billion, slightly above estimates, but earnings per share of $0.27 missed expectations by $0.02.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating; one analyst rates it Strong Buy, five Buy, three Hold, and one Sell.

Lazard Asset Management LLC lowered its stake in Banco Santander, S.A. (NYSE:SAN - Free Report) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,388,093 shares of the bank's stock after selling 494,990 shares during the quarter. Lazard Asset Management LLC owned 0.06% of Banco Santander worth $94,618,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of Banco Santander by 77.4% in the first quarter. AQR Capital Management LLC now owns 419,635 shares of the bank's stock valued at $2,812,000 after purchasing an additional 183,051 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Banco Santander by 3.7% during the 1st 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 lifted its stake in Banco Santander by 271.2% in the 1st 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 in the last quarter. Focus Partners Wealth increased its stake 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 in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Banco Santander in the first quarter valued at approximately $601,000. 9.19% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Stock Up 3.2%

Shares of NYSE:SAN opened at $13.98 on Tuesday. Banco Santander, S.A. has a 52-week low of $8.29 and a 52-week high of $14.39. The stock has a market cap of $205.31 billion, a P/E ratio of 11.36, a PEG ratio of 0.73 and a beta of 0.72. The business has a fifty day moving average of $13.14 and a two-hundred day moving average of $12.38. The company has a quick ratio of 0.25, a current ratio of 0.35 and a debt-to-equity ratio of 3.89.

Banco Santander (NYSE:SAN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The company had revenue of $17.93 billion for the quarter, compared to analysts' expectations of $17.90 billion. Banco Santander had a return on equity of 12.43% and a net margin of 26.94%. On average, research analysts expect that Banco Santander, S.A. will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

SAN has been the subject of several research reports. Santander reiterated a "buy" rating on shares of Banco Santander in a research report on Tuesday, June 23rd. Weiss Ratings upgraded Banco Santander from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of Banco Santander from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Banco Santander presently has a consensus rating of "Moderate Buy".

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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