Santander Consumer USA Holdings Inc (SC) Shares Bought by Bank of America Corp DE

Bank of America Corp DE grew its stake in shares of Santander Consumer USA Holdings Inc (NYSE:SC) by 37.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,900 shares of the financial services provider’s stock after acquiring an additional 30,102 shares during the period. Bank of America Corp DE’s holdings in Santander Consumer USA were worth $2,117,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in Santander Consumer USA in the second quarter worth approximately $1,242,000. Hartford Investment Management Co. bought a new position in Santander Consumer USA in the second quarter worth approximately $249,000. Acadian Asset Management LLC bought a new position in Santander Consumer USA in the second quarter worth approximately $469,000. Meeder Asset Management Inc. raised its stake in Santander Consumer USA by 253.8% in the second quarter. Meeder Asset Management Inc. now owns 8,948 shares of the financial services provider’s stock worth $171,000 after buying an additional 6,419 shares in the last quarter. Finally, Ramsey Quantitative Systems raised its stake in Santander Consumer USA by 16.4% in the second quarter. Ramsey Quantitative Systems now owns 18,393 shares of the financial services provider’s stock worth $351,000 after buying an additional 2,590 shares in the last quarter.

A number of brokerages recently commented on SC. Zacks Investment Research raised shares of Santander Consumer USA from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 31st. Oppenheimer reissued a “hold” rating on shares of Santander Consumer USA in a research note on Wednesday, October 31st. BMO Capital Markets boosted their price objective on shares of Santander Consumer USA from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 2nd. Susquehanna Bancshares set a $26.00 price objective on shares of Santander Consumer USA and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, ValuEngine downgraded shares of Santander Consumer USA from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.79.

Shares of SC stock opened at $19.11 on Friday. The firm has a market cap of $6.91 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.50 and a beta of 1.08. Santander Consumer USA Holdings Inc has a 12-month low of $15.55 and a 12-month high of $21.81.

Santander Consumer USA (NYSE:SC) last issued its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Santander Consumer USA had a return on equity of 13.44% and a net margin of 20.54%. During the same period in the prior year, the firm posted $0.55 earnings per share. Equities research analysts anticipate that Santander Consumer USA Holdings Inc will post 2.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Saturday, November 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, November 8th. Santander Consumer USA’s payout ratio is presently 45.98%.

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About Santander Consumer USA

Santander Consumer USA Holdings Inc, a specialized consumer finance company, provides vehicle finance and third-party servicing in the United States. Its products and services include retail installment contracts and vehicle leases, as well as dealer loans for inventory, construction, real estate, working capital, and revolving lines of credit.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Santander Consumer USA (NYSE:SC)

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