Traynor Capital Management Inc. Decreases Stake in Banco Santander SA (NYSE:SAN)
Traynor Capital Management Inc. lowered its position in Banco Santander SA (NYSE:SAN) by 54.8% in the second quarter, Holdings Channel reports. The fund owned 14,000 shares of the bank’s stock after selling 17,000 shares during the period. Traynor Capital Management Inc.’s holdings in Banco Santander were worth $64,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Enterprise Financial Services Corp lifted its stake in Banco Santander by 85.6% in the first quarter. Enterprise Financial Services Corp now owns 5,370 shares of the bank’s stock worth $25,000 after acquiring an additional 2,477 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Banco Santander during the second quarter worth approximately $29,000. Cornerstone Advisors Inc. raised its holdings in Banco Santander by 53.9% during the first quarter. Cornerstone Advisors Inc. now owns 7,473 shares of the bank’s stock worth $35,000 after purchasing an additional 2,616 shares in the last quarter. Harvest Group Wealth Management LLC acquired a new stake in Banco Santander during the first quarter worth approximately $38,000. Finally, Howland Capital Management LLC acquired a new stake in Banco Santander during the first quarter worth approximately $46,000. Institutional investors own 1.72% of the company’s stock.
SAN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Banco Santander from a “sell” rating to a “hold” rating in a report on Saturday, July 27th. UBS Group cut shares of Banco Santander from a “buy” rating to a “neutral” rating in a report on Thursday, July 18th. Finally, ValuEngine cut shares of Banco Santander from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Banco Santander presently has a consensus rating of “Hold” and a consensus target price of $5.75.
Banco Santander (NYSE:SAN) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The business had revenue of $13.88 billion during the quarter. Banco Santander had a net margin of 14.99% and a return on equity of 7.27%. As a group, sell-side analysts predict that Banco Santander SA will post 0.54 EPS for the current year.
Banco Santander Company Profile
Banco Santander, SA, together with its subsidiaries, provides various retail and commercial banking products and services for individual and corporate clients worldwide. It offers demand and time deposits, and current and savings accounts; mortgages, consumer finance, auto finance, and personal loans; export and agency finance, trade and working capital solutions, syndicated corporate loans, and structured financing; debt capital markets and global markets services; and debit and credit cards.
Featured Article: How to interpret Moving Average Convergence Divergence (MACD)
Want to see what other hedge funds are holding SAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Santander SA (NYSE:SAN).
Receive News & Ratings for Banco Santander Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Santander and related companies with MarketBeat.com's FREE daily email newsletter.