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

Banco Santander, S.A. (NYSE:SAN)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.79 and last traded at $11.7950, with a volume of 560258 shares traded. The stock had previously closed at $11.72.

Analyst Ratings Changes

SAN has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b+)” rating on shares of Banco Santander in a report on Wednesday, October 8th. DZ Bank downgraded Banco Santander from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. The Goldman Sachs Group lowered Banco Santander from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 16th. Finally, Zacks Research downgraded Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold”.

Banco Santander Trading Up 0.5%

The firm has a market cap of $176.90 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.73 and a beta of 0.74. The stock has a 50-day moving average of $10.64 and a 200-day moving average of $9.69.

Banco Santander (NYSE:SAN) last announced its quarterly earnings results on Wednesday, October 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $26.22 billion for the quarter, compared to analyst estimates of $15.32 billion. Banco Santander had a net margin of 17.90% and a return on equity of 11.68%. As a group, research analysts expect that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Banco Santander Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, November 6th. Shareholders of record on Friday, October 31st were paid a dividend of $0.0956 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a yield of 263.0%. Banco Santander’s payout ratio is presently 19.15%.

Hedge Funds Weigh In On Banco Santander

Several hedge funds have recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Banco Santander in the 3rd quarter valued at about $25,000. True Wealth Design LLC bought a new stake in shares of Banco Santander in the 3rd quarter worth approximately $27,000. Princeton Global Asset Management LLC acquired a new stake in Banco Santander during the third quarter valued at approximately $31,000. Richardson Financial Services Inc. bought a new stake in Banco Santander during the second quarter worth approximately $25,000. Finally, Binnacle Investments Inc grew its position in Banco Santander by 96.2% in the third quarter. Binnacle Investments Inc now owns 3,227 shares of the bank’s stock worth $34,000 after buying an additional 1,582 shares during the last quarter. 9.19% of the stock is currently owned by institutional investors and hedge funds.

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.