PNC Financial Services Group Inc. Increases Stock Holdings in 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. boosted its stake in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 299,177 shares of the bank's stock after purchasing an additional 34,248 shares during the period. 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 large investors also recently bought and sold shares of the stock. HBK Sorce Advisory LLC boosted its holdings in shares of Banco Santander by 9.8% in the 1st quarter. HBK Sorce Advisory LLC now owns 19,206 shares of the bank's stock valued at $129,000 after acquiring an additional 1,711 shares during the last quarter. WealthCollab LLC boosted its holdings in shares of Banco Santander by 35.1% in the 4th quarter. WealthCollab LLC now owns 7,801 shares of the bank's stock valued at $36,000 after acquiring an additional 2,028 shares during the last quarter. May Hill Capital LLC boosted its holdings in shares of Banco Santander by 12.8% in the 1st quarter. May Hill Capital LLC now owns 21,917 shares of the bank's stock valued at $147,000 after acquiring an additional 2,481 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in Banco Santander by 6.5% during the first quarter. Verdence Capital Advisors LLC now owns 45,236 shares of the bank's stock worth $303,000 after buying an additional 2,755 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in Banco Santander by 9.7% during the fourth quarter. Lido Advisors LLC now owns 36,699 shares of the bank's stock worth $167,000 after buying an additional 3,234 shares in the last quarter. Hedge funds and other institutional investors own 9.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Banco Santander in a report on Wednesday, June 4th. They set a "buy" rating on the stock. Kepler Capital Markets downgraded shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of Banco Santander from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

Banco Santander Trading Up 1.4%

NYSE:SAN traded up $0.14 during trading hours on Wednesday, reaching $9.53. 2,305,633 shares of the company were exchanged, compared to its average volume of 5,729,795. The stock's 50-day moving average is $8.45 and its 200-day moving average is $7.30. The firm has a market cap of $141.78 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. Banco Santander, S.A. has a twelve month low of $4.43 and a twelve month high of $9.57.

Banco Santander (NYSE:SAN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The bank reported $0.22 earnings per share 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, research analysts anticipate that Banco Santander, S.A. will post 0.83 EPS for the current 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.