Summit Securities Group LLC Buys Shares of 389,976 Banco Santander, S.A. $SAN

Key Points

• Summit Securities Group LLC acquired a new stake in Banco Santander, purchasing 389,976 shares worth approximately $2.61 million, making it the firm's 16th largest holding.
• Other institutional investors, like GAMMA Investing LLC and PNC Financial Services Group Inc., have also significantly increased their stakes in Banco Santander, with GAMMA boosting its position by 791.8%.
• Banco Santander's stock has received mixed ratings from analysts; it has a consensus rating of "Moderate Buy", with two analysts rating it as hold and three as buy.

Summit Securities Group LLC bought a new position in shares of Banco Santander, S.A. (NYSE:SAN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 389,976 shares of the bank's stock, valued at approximately $2,613,000. Banco Santander makes up about 0.4% of Summit Securities Group LLC's holdings, making the stock its 16th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its stake in Banco Santander by 46.4% in the 4th quarter. Northern Trust Corp now owns 10,775,261 shares of the bank's stock worth $49,135,000 after purchasing an additional 3,413,685 shares during the period. Chevy Chase Trust Holdings LLC boosted its stake in Banco Santander by 30.5% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 11,875,594 shares of the bank's stock worth $79,566,000 after purchasing an additional 2,774,449 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Banco Santander in the 1st quarter worth approximately $10,181,000. Citigroup Inc. boosted its stake in 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 purchasing an additional 1,481,207 shares during the period. Finally, Jane Street Group LLC boosted its stake in 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 purchasing an additional 967,039 shares during the period. 9.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SAN has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of Banco Santander in a research note on Wednesday, June 4th. They issued a "buy" rating for the company. Kepler Capital Markets lowered shares of Banco Santander from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Banco Santander from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy".

Banco Santander Stock Performance

Shares of Banco Santander stock traded up $0.2450 during midday trading on Friday, reaching $9.8150. 4,223,685 shares of the company's stock traded hands, compared to its average volume of 5,618,926. The company has a market cap of $146.10 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. The company's 50 day simple moving average is $8.68 and its 200 day simple moving average is $7.50. Banco Santander, S.A. has a 52 week low of $4.43 and a 52 week high of $9.80.

Banco Santander (NYSE:SAN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $17.83 billion for the quarter, compared to the consensus estimate of $17.69 billion. Banco Santander had a net margin of 17.30% and a return on equity of 11.98%. Banco Santander has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Banco Santander, S.A. will post 0.83 earnings per share for the current 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.