QRG Capital Management Inc. Cuts Position in Banco Santander, S.A. $SAN

QRG Capital Management Inc. lowered its holdings in Banco Santander, S.A. (NYSE:SAN) by 42.6% during the third quarter, HoldingsChannel reports. The fund owned 1,267,924 shares of the bank’s stock after selling 940,738 shares during the period. QRG Capital Management Inc.’s holdings in Banco Santander were worth $13,288,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new stake in shares of Banco Santander during the 2nd quarter valued at approximately $25,000. True Wealth Design LLC acquired a new stake in shares of Banco Santander in the third quarter valued at approximately $27,000. Westside Investment Management Inc. acquired a new position in shares of Banco Santander during the 2nd quarter worth approximately $30,000. Atlantic Union Bankshares Corp purchased a new stake in Banco Santander in the 2nd quarter valued at approximately $30,000. Finally, Smithfield Trust Co purchased a new position in Banco Santander during the second quarter worth $30,000. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group cut Banco Santander from a “strong-buy” rating to a “hold” rating in a research report on Friday. Kepler Capital Markets upgraded Banco Santander from a “hold” rating to a “buy” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “buy (b+)” rating on shares of Banco Santander in a research note on Wednesday, October 8th. Barclays downgraded shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, DZ Bank downgraded Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Banco Santander currently has a consensus rating of “Hold”.

Banco Santander Trading Up 0.8%

SAN stock opened at $12.21 on Friday. Banco Santander, S.A. has a 1 year low of $4.85 and a 1 year high of $12.31. The stock has a 50-day moving average price of $11.31 and a two-hundred day moving average price of $10.15. The stock has a market cap of $181.75 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.74 and a beta of 0.73.

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

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.