Summit Global Investments Sells 115,610 Shares of Banco Santander, S.A. (NYSE:SAN)

Summit Global Investments decreased its position in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,868 shares of the bank's stock after selling 115,610 shares during the quarter. Summit Global Investments' holdings in Banco Santander were worth $750,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lockheed Martin Investment Management Co. lifted its holdings in Banco Santander by 197.0% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 557,390 shares of the bank's stock worth $2,542,000 after purchasing an additional 369,700 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Banco Santander by 62.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 105,415 shares of the bank's stock worth $479,000 after purchasing an additional 40,438 shares during the period. Raymond James Financial Inc. acquired a new stake in Banco Santander in the fourth quarter worth about $3,319,000. Barclays PLC raised its position in Banco Santander by 284.9% in the fourth quarter. Barclays PLC now owns 670,513 shares of the bank's stock worth $3,057,000 after acquiring an additional 496,309 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Banco Santander by 10.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,135,377 shares of the bank's stock worth $5,177,000 after acquiring an additional 110,821 shares in the last quarter. Institutional investors and hedge funds own 9.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SAN. Wall Street Zen upgraded shares of Banco Santander from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group cut shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upgraded Banco Santander from a "hold" rating to a "moderate buy" rating in a report on Monday, February 24th. Finally, Citigroup began coverage on Banco Santander in a report on Wednesday. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Banco Santander Trading Up 1.6%

NYSE SAN traded up $0.13 on Thursday, hitting $8.00. 2,638,950 shares of the company were exchanged, compared to its average volume of 3,729,076. The firm has a market capitalization of $121.14 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.77 and a beta of 1.00. The company's 50 day moving average price is $7.18 and its 200-day moving average price is $6.03. Banco Santander, S.A. has a twelve month low of $4.27 and a twelve month high of $8.08. The company has a debt-to-equity ratio of 13.83, a current ratio of 2.24 and a quick ratio of 0.23.

Banco Santander (NYSE:SAN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The bank reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $15.94 billion. Banco Santander had a return on equity of 11.90% and a net margin of 15.88%. Analysts predict that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Banco Santander Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 30th were paid a $0.1152 dividend. This is a boost from Banco Santander's previous semi-annual dividend of $0.08. The ex-dividend date was Wednesday, April 30th. This represents a dividend yield of 2.4%. Banco Santander's payout ratio is presently 20.69%.

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.