Banco Santander (NYSE:SAN) Reaches New 12-Month High – What’s Next?

Banco Santander, S.A. (NYSE:SAN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.78 and last traded at $13.8050, with a volume of 5046036 shares changing hands. The stock had previously closed at $13.65.

Analysts Set New Price Targets

SAN has been the subject of several recent research reports. Wall Street Zen upgraded shares of Banco Santander from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Santander reaffirmed a “buy” rating on shares of Banco Santander in a research report on Tuesday, June 23rd. Morgan Stanley raised Banco Santander from an “equal weight” rating to an “overweight” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings downgraded Banco Santander from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Banco Santander Stock Performance

The company has a market capitalization of $202.79 billion, a P/E ratio of 11.41, a PEG ratio of 0.76 and a beta of 0.73. The stock’s fifty day moving average price is $12.49 and its 200-day moving average price is $12.10.

Banco Santander (NYSE:SAN) last announced its quarterly earnings results on Wednesday, April 29th. The bank reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Banco Santander had a return on equity of 12.23% and a net margin of 26.92%.The business had revenue of $17.53 billion for the quarter, compared to analyst estimates of $17.66 billion. On average, research analysts predict that Banco Santander, S.A. will post 1.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Santander

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC raised its position in shares of Banco Santander by 117.9% in the first quarter. Acumen Wealth Advisors LLC now owns 2,308 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,249 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Banco Santander during the 1st quarter worth about $28,000. Eagle Bay Advisors LLC acquired a new position in Banco Santander in the 4th quarter valued at about $31,000. Cullen Frost Bankers Inc. bought a new position in Banco Santander in the 4th quarter valued at about $34,000. Finally, Binnacle Investments Inc lifted its position in Banco Santander by 96.2% during the third quarter. Binnacle Investments Inc now owns 3,227 shares of the bank’s stock worth $34,000 after acquiring an additional 1,582 shares during the last quarter. 9.19% of the stock is owned by institutional investors.

About Banco Santander

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.