Lockheed Martin Investment Management Co. Sells 421,810 Shares of Banco Santander, S.A. (NYSE:SAN)

Key Points

• Lockheed Martin Investment Management Co. has drastically reduced its holdings in Banco Santander, selling 421,810 shares and cutting its position by 75.7%, leaving it with 135,580 shares valued at approximately $908,000.
• Several institutional investors have increased their stakes in Banco Santander, with HBK Sorce Advisory LLC raising its position by 9.8% and WealthCollab LLC increasing by 35.1% in recent quarters.
• Analysts' ratings for Banco Santander vary, with the stock currently holding a consensus rating of "Moderate Buy", reflecting mixed sentiments following a recent downgrade from Kepler Capital Markets.

Lockheed Martin Investment Management Co. lessened its holdings in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 75.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,580 shares of the bank's stock after selling 421,810 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Banco Santander were worth $908,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in Banco Santander in the first quarter worth $28,000. WealthCollab LLC lifted its holdings in shares of Banco Santander by 35.1% during 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 in the last quarter. EP Wealth Advisors LLC purchased a new stake in Banco Santander during the fourth quarter valued at $55,000. Two Sigma Securities LLC purchased a new stake in Banco Santander during the fourth quarter valued at $61,000. Finally, Alliancebernstein L.P. purchased a new stake in Banco Santander during the fourth quarter valued at $63,000. 9.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SAN has been the subject of a number of research reports. Citigroup initiated coverage on Banco Santander in a research report on Wednesday, June 4th. They set a "buy" rating for the company. Kepler Capital Markets cut Banco Santander from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Banco Santander from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Banco Santander Price Performance

Shares of NYSE SAN traded up $0.07 during mid-day trading on Tuesday, reaching $9.39. The company's stock had a trading volume of 2,854,533 shares, compared to its average volume of 5,362,309. The firm has a market capitalization of $139.77 billion, a PE ratio of 10.43, a P/E/G ratio of 1.04 and a beta of 1.06. The stock has a fifty day moving average of $8.45 and a two-hundred day moving average of $7.30. Banco Santander, S.A. has a 52 week low of $4.43 and a 52 week high of $9.42.

Banco Santander (NYSE:SAN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The bank reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.04). Banco Santander had a net margin of 17.30% and a return on equity of 11.98%. The firm had revenue of $17.83 billion for the quarter, compared to the consensus estimate of $17.69 billion. Analysts anticipate 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.