PNC Financial Services Group Inc. Acquires 34,248 Shares of Banco Santander, S.A. (NYSE:SAN)

Key Points

• PNC Financial Services Group Inc. increased its holdings in Banco Santander, S.A. by 12.9% during the first quarter, bringing its total ownership to 299,177 shares valued at $2,004,000.
• Banco Santander reported $0.22 EPS for the last quarter, missing the analysts' consensus estimate of $0.26, while its revenue was $17.83 billion, slightly above the expected $17.69 billion.
• Wall Street analysts have differing views on Banco Santander, with ratings varying from "buy" to "hold", but the average rating is considered a "Moderate Buy."

PNC Financial Services Group Inc. raised its position in Banco Santander, S.A. (NYSE:SAN - Free Report) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,177 shares of the bank's stock after purchasing an additional 34,248 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Banco Santander were worth $2,004,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SAN. Northern Trust Corp increased its position in shares of Banco Santander by 46.4% in the fourth quarter. Northern Trust Corp now owns 10,775,261 shares of the bank's stock valued at $49,135,000 after acquiring an additional 3,413,685 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of Banco Santander by 30.5% in the first quarter. Chevy Chase Trust Holdings LLC now owns 11,875,594 shares of the bank's stock valued at $79,566,000 after acquiring an additional 2,774,449 shares during the last quarter. FMR LLC grew its holdings in Banco Santander by 5.1% during the fourth quarter. FMR LLC now owns 21,953,176 shares of the bank's stock worth $100,106,000 after purchasing an additional 1,059,449 shares during the period. Jane Street Group LLC grew its holdings in Banco Santander by 4,041.6% during the fourth quarter. Jane Street Group LLC now owns 990,966 shares of the bank's stock worth $4,519,000 after purchasing an additional 967,039 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Banco Santander during the fourth quarter worth about $3,319,000. Institutional investors and hedge funds own 9.19% of the company's stock.

Analyst Ratings Changes

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

Banco Santander Price Performance

NYSE:SAN traded up $0.07 during trading hours on Tuesday, reaching $9.39. 2,852,971 shares of the company were exchanged, compared to its average volume of 5,753,147. The company has a market capitalization of $139.77 billion, a P/E ratio of 10.43, a P/E/G ratio of 1.04 and a beta of 1.06. Banco Santander, S.A. has a 1-year low of $4.43 and a 1-year high of $9.42. The business has a 50 day moving average of $8.42 and a 200 day moving average of $7.29.

Banco Santander (NYSE:SAN - Get Free Report) last issued 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 return on equity of 11.98% and a net margin of 17.30%. As a group, equities research analysts anticipate that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

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.