Raymond James Financial Inc. Sells 61,278 Shares of Banco Santander, S.A. $SAN

Key Points

• Raymond James Financial Inc. has reduced its stake in Banco Santander, S.A. by 8.4%, now holding 666,560 shares valued at approximately $4.47 million.
• Other institutional investors have increased their positions in Banco Santander, with HBK Sorce Advisory LLC growing its stake by 9.8% in the same quarter.
• Banco Santander's latest earnings report showed a miss in EPS expectations, reporting $0.22 against a forecast of $0.26, although revenue exceeded expectations at $17.83 billion.

Raymond James Financial Inc. lowered its stake in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 666,560 shares of the bank's stock after selling 61,278 shares during the period. Raymond James Financial Inc.'s holdings in Banco Santander were worth $4,466,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SAN. Chevy Chase Trust Holdings LLC boosted its stake in Banco Santander by 30.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 11,875,594 shares of the bank's stock valued at $79,566,000 after purchasing an additional 2,774,449 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Banco Santander in the 1st quarter worth approximately $10,181,000. Citigroup Inc. boosted its stake in shares of Banco Santander by 170.6% in the 1st quarter. Citigroup Inc. now owns 2,349,567 shares of the bank's stock worth $15,742,000 after buying an additional 1,481,207 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Banco Santander by 4,041.6% in the 4th quarter. Jane Street Group LLC now owns 990,966 shares of the bank's stock worth $4,519,000 after buying an additional 967,039 shares during the last quarter. Finally, Nwam LLC purchased a new position in shares of Banco Santander in the 1st quarter worth approximately $4,280,000. Institutional investors and hedge funds own 9.19% of the company's stock.

Banco Santander Stock Up 1.4%

Banco Santander stock traded up $0.14 during trading on Thursday, hitting $10.09. The stock had a trading volume of 3,050,264 shares, compared to its average volume of 3,530,455. Banco Santander, S.A. has a 1 year low of $4.43 and a 1 year high of $10.09. The stock's 50 day moving average is $9.12 and its two-hundred day moving average is $7.89. The stock has a market cap of $150.19 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.81 and a beta of 1.08.

Banco Santander (NYSE:SAN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The bank reported $0.22 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $17.69 billion. Banco Santander has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

SAN has been the topic of a number of research analyst reports. Kepler Capital Markets downgraded Banco Santander from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Citigroup initiated coverage on Banco Santander in a research note on Wednesday, June 4th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Banco Santander Company 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.