Short Interest in Banco Santander, S.A. (NYSE:SAN) Decreases By 47.2%

Key Points

• Short interest in Banco Santander decreased by 47.2% in July, dropping to 5,430,000 shares, indicating less bearish sentiment among investors.
• Institutional investors have been active, with firms like Richardson Financial and Wayfinding Financial purchasing new positions in Banco Santander during the second and first quarters.
• The bank reported $0.22 earnings per share for the last quarter, missing analysts' estimates, while also achieving a revenue of $17.83 billion, surpassing the consensus.

Banco Santander, S.A. (NYSE:SAN - Get Free Report) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 5,430,000 shares, adropof47.2% from the July 15th total of 10,290,000 shares. Currently,0.0% of the shares of the stock are short sold. Based on an average daily volume of 6,280,000 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 6,280,000 shares, the days-to-cover ratio is currently 0.9 days. Currently,0.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On Banco Santander

Institutional investors and hedge funds have recently modified their holdings of the stock. Richardson Financial Services Inc. purchased a new position in shares of Banco Santander in the 2nd quarter worth approximately $25,000. Wayfinding Financial LLC purchased a new position in shares of Banco Santander in the 1st quarter worth approximately $28,000. Westside Investment Management Inc. purchased a new position in shares of Banco Santander in the 2nd quarter worth approximately $30,000. Atlantic Union Bankshares Corp purchased a new position in shares of Banco Santander in the 2nd quarter worth approximately $30,000. Finally, Smithfield Trust Co purchased a new position in shares of Banco Santander in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 9.19% of the company's stock.

Banco Santander Stock Performance

NYSE:SAN traded down $0.06 during trading hours on Monday, reaching $9.58. The stock had a trading volume of 2,376,885 shares, compared to its average volume of 4,726,772. Banco Santander has a 52 week low of $4.43 and a 52 week high of $9.70. The company has a 50 day moving average price of $8.58 and a two-hundred day moving average price of $7.44. The stock has a market capitalization of $142.60 billion, a PE ratio of 10.64, a PEG ratio of 1.08 and a beta of 1.06.

Banco Santander (NYSE:SAN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.04). Banco Santander had a return on equity of 11.98% and a net margin of 17.30%. The firm had revenue of $17.83 billion during the quarter, compared to the consensus estimate of $17.69 billion. Equities research analysts predict that Banco Santander will post 0.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on SAN shares. Wall Street Zen raised Banco Santander from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Citigroup initiated coverage on Banco Santander in a research note on Wednesday, June 4th. They set a "buy" rating on the stock. Finally, Kepler Capital Markets downgraded Banco Santander from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average 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.

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