Banco Santander, S.A. (NYSE:SAN) Stake Reduced by Todd Asset Management LLC

Key Points

• Todd Asset Management LLC reduced its stake in Banco Santander by 1.0% during the first quarter, now holding 8,803,879 shares worth approximately $58.99 million.
• Banco Santander's quarterly earnings report revealed an EPS of $0.22, missing analyst expectations of $0.26, while its revenue was reported at $17.83 billion.
• Recent analyst ratings reflect mixed opinions on Banco Santander, with several analysts rating the stock as a moderate buy while one upgraded it from "hold" to "buy."

Todd Asset Management LLC cut its stake in Banco Santander, S.A. (NYSE:SAN - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,803,879 shares of the bank's stock after selling 92,313 shares during the period. Banco Santander makes up 1.4% of Todd Asset Management LLC's investment portfolio, making the stock its 12th largest position. Todd Asset Management LLC owned about 0.06% of Banco Santander worth $58,986,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SAN. Wayfinding Financial LLC acquired a new position in Banco Santander during the 1st quarter worth approximately $28,000. WealthCollab LLC raised its position 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 purchasing an additional 2,028 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Banco Santander in the 4th quarter valued at approximately $55,000. Two Sigma Securities LLC acquired a new position in shares of Banco Santander in the 4th quarter valued at approximately $61,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Banco Santander in the 4th quarter valued at approximately $63,000. 9.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Banco Santander Stock Performance

Shares of NYSE SAN traded up $0.02 during trading on Friday, reaching $9.64. The stock had a trading volume of 1,689,732 shares, compared to its average volume of 5,698,385. Banco Santander, S.A. has a one year low of $4.43 and a one year high of $9.70. The stock has a market cap of $143.42 billion, a PE ratio of 10.71, a P/E/G ratio of 1.07 and a beta of 1.06. The firm's 50 day moving average price is $8.52 and its two-hundred day moving average price is $7.35.

Banco Santander (NYSE:SAN - Get Free Report) last issued 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 firm had revenue of $17.83 billion during 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%. On average, research analysts expect 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.