Steamboat Capital Partners LLC Sells 299,834 Shares of Banco Santander, S.A. $SAN

Key Points

• Steamboat Capital Partners cut its Banco Santander stake by 33.3% in the second quarter, selling 299,834 shares and retaining 600,166 shares worth approximately $8.28 million.
• Analyst sentiment remains broadly positive, with six Buy ratings, three Holds and one Sell, resulting in a consensus “Moderate Buy” rating.
• Banco Santander shares opened at $14.86, near their 52-week high of $15.05. The bank’s latest quarterly EPS of $0.27 missed estimates by $0.02, while revenue of $17.93 billion slightly exceeded expectations.

Steamboat Capital Partners LLC trimmed its holdings in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 600,166 shares of the bank's stock after selling 299,834 shares during the quarter. Banco Santander makes up about 1.8% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 22nd largest holding. Steamboat Capital Partners LLC's holdings in Banco Santander were worth $8,282,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Acumen Wealth Advisors LLC increased its stake in shares of Banco Santander by 117.9% in the 1st quarter. Acumen Wealth Advisors LLC now owns 2,308 shares of the bank's stock worth $26,000 after purchasing an additional 1,249 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Banco Santander during the first quarter valued at $28,000. Cullen Frost Bankers Inc. purchased a new stake in Banco Santander in the fourth quarter worth about $34,000. Financial Management Professionals Inc. raised its stake in shares of Banco Santander by 151.1% in the second quarter. Financial Management Professionals Inc. now owns 2,471 shares of the bank's stock worth $34,000 after buying an additional 1,487 shares during the period. Finally, Compass Financial Management LLC purchased a new position in shares of Banco Santander during the 2nd quarter valued at about $34,000. 9.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SAN has been the subject of several analyst reports. Santander reissued a "buy" rating on shares of Banco Santander in a report on Tuesday, June 23rd. Weiss Ratings downgraded shares of Banco Santander from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Banco Santander from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Banco Santander currently has a consensus rating of "Moderate Buy".

Banco Santander Price Performance

SAN stock opened at $14.86 on Wednesday. Banco Santander, S.A. has a 1-year low of $9.62 and a 1-year high of $15.05. The business has a 50 day simple moving average of $14.24 and a two-hundred day simple moving average of $12.86. The company has a market capitalization of $218.21 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.74 and a beta of 0.74.

Banco Santander (NYSE:SAN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). Banco Santander had a net margin of 26.94% and a return on equity of 12.43%. The company had revenue of $17.93 billion for the quarter, compared to the consensus estimate of $17.90 billion. Sell-side analysts anticipate that Banco Santander, S.A. will post 1.25 EPS for the current fiscal year.

Banco Santander Profile

Banco Santander, SA is a global banking group headquartered in Santander, Spain. Founded in 1857, the company provides financial products and services to individuals, businesses, institutions and governments through its banking operations in Europe, North America and South America.

Its principal activities include retail and commercial banking, consumer finance, corporate and investment banking, private banking, asset management, insurance and payment services. Santander offers products such as current and savings accounts, mortgages, personal loans, credit cards, business financing, investment products and digital banking services.

The group operates through established franchises in markets including Spain, the United Kingdom, Portugal, Poland, Brazil, Mexico, Chile, Argentina and the United States.

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