Summit Global Investments Sells 115,610 Shares of Banco Santander, S.A. (NYSE:SAN)

Summit Global Investments reduced its position in shares of Banco Santander, S.A. (NYSE:SAN) by 50.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 111,868 shares of the bank’s stock after selling 115,610 shares during the quarter. Summit Global Investments’ holdings in Banco Santander were worth $750,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Banco Santander by 2,226.3% during the fourth quarter. Larson Financial Group LLC now owns 5,839 shares of the bank’s stock worth $27,000 after buying an additional 5,588 shares during the last quarter. R Squared Ltd bought a new stake in shares of Banco Santander during the 4th quarter valued at $27,000. Sierra Ocean LLC bought a new stake in shares of Banco Santander during the 4th quarter valued at $32,000. WealthCollab LLC increased its holdings in Banco Santander by 35.1% in the fourth quarter. WealthCollab LLC now owns 7,801 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,028 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in Banco Santander in the fourth quarter valued at about $37,000. 9.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SAN. The Goldman Sachs Group downgraded Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Wall Street Zen raised shares of Banco Santander from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods raised shares of Banco Santander from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Banco Santander currently has an average rating of “Buy”.

Banco Santander Stock Up 0.3%

Shares of Banco Santander stock opened at $7.97 on Friday. Banco Santander, S.A. has a 1 year low of $4.27 and a 1 year high of $8.08. The business has a 50-day moving average of $7.09 and a two-hundred day moving average of $5.96. The company has a market capitalization of $120.77 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 0.77 and a beta of 0.97. The company has a debt-to-equity ratio of 13.83, a current ratio of 2.24 and a quick ratio of 0.23.

Banco Santander (NYSE:SAN) last posted its earnings results on Wednesday, April 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. Banco Santander had a return on equity of 11.90% and a net margin of 15.88%. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $15.94 billion. As a group, equities analysts predict that Banco Santander, S.A. will post 0.83 EPS for the current year.

Banco Santander Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.1152 per share. This is an increase from Banco Santander’s previous semi-annual dividend of $0.08. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a dividend yield of 2.4%. Banco Santander’s dividend payout ratio is currently 20.69%.

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.