Banco Santander (NYSE:SAN) Reaches New 52-Week High – Here’s What Happened

Banco Santander, S.A. (NYSE:SAN) shares hit a new 52-week high during trading on Monday . The company traded as high as $13.24 and last traded at $13.2750, with a volume of 127893 shares changing hands. The stock had previously closed at $12.87.

Analysts Set New Price Targets

SAN has been the topic of a number of recent analyst reports. Santander reissued an “outperform” rating on shares of Banco Santander in a research note on Tuesday, May 12th. Wall Street Zen upgraded Banco Santander from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Royal Bank Of Canada raised Banco Santander from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 23rd. Weiss Ratings cut Banco Santander from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, May 8th. Finally, UBS Group reiterated a “buy” rating on shares of Banco Santander in a research note on Monday, February 16th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Banco Santander Stock Performance

The company has a 50 day moving average price of $12.17 and a 200 day moving average price of $11.90. The company has a market capitalization of $194.27 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 0.73 and a beta of 0.73.

Banco Santander (NYSE:SAN) last released its quarterly earnings data on Wednesday, April 29th. The bank reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). Banco Santander had a net margin of 26.92% and a return on equity of 12.23%. The firm had revenue of $17.53 billion for the quarter, compared to the consensus estimate of $17.66 billion. Research analysts forecast that Banco Santander, S.A. will post 1.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SAN. Acumen Wealth Advisors LLC grew its holdings in Banco Santander by 117.9% during the first quarter. Acumen Wealth Advisors LLC now owns 2,308 shares of the bank’s stock worth $26,000 after buying an additional 1,249 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Banco Santander during the 1st quarter worth $28,000. Eagle Bay Advisors LLC purchased a new position in Banco Santander during the 4th quarter worth $31,000. Cullen Frost Bankers Inc. bought a new stake in shares of Banco Santander in the 4th quarter worth $34,000. Finally, Binnacle Investments Inc raised its holdings in shares of Banco Santander by 96.2% in the third quarter. Binnacle Investments Inc now owns 3,227 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,582 shares during the last quarter. Hedge funds and other institutional investors own 9.19% of the company’s stock.

Banco Santander Company Profile

Banco Santander, SA (NYSE: SAN) is a Spanish multinational banking group headquartered in Santander, Spain. Founded in 1857, the bank has grown from a regional institution into one of Europe’s largest banking groups, operating a diversified financial services platform that serves retail, small and medium-sized enterprises, and large corporate clients. Santander is publicly listed in Spain and maintains American Depositary Receipts on the New York Stock Exchange under the ticker SAN.

The group’s core activities include retail and commercial banking—offering deposit accounts, payment services, mortgages, personal and auto loans, and small business financing—alongside corporate and investment banking services for larger institutional clients.