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

Banco Santander, S.A. (NYSE:SAN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.64 and last traded at $11.5250, with a volume of 2316103 shares trading hands. The stock had previously closed at $11.60.

Wall Street Analyst Weigh In

SAN has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b+)” rating on shares of Banco Santander in a research note on Wednesday, October 8th. The Goldman Sachs Group cut shares of Banco Santander from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, October 16th. Finally, Zacks Research lowered Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Banco Santander presently has a consensus rating of “Hold”.

Banco Santander Stock Performance

The company’s fifty day moving average price is $10.43 and its 200 day moving average price is $9.55. The firm has a market capitalization of $171.55 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.72 and a beta of 0.74.

Banco Santander (NYSE:SAN) last released its quarterly earnings data on Wednesday, October 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $20.94 billion for the quarter, compared to analyst estimates of $15.32 billion. Banco Santander had a return on equity of 11.68% and a net margin of 17.90%. As a group, sell-side analysts expect that Banco Santander, S.A. will post 0.83 earnings per share for the current year.

Banco Santander Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, November 6th. Investors of record on Friday, October 31st were given a dividend of $0.0956 per share. The ex-dividend date was Friday, October 31st. This represents a yield of 263.0%. Banco Santander’s payout ratio is currently 20.21%.

Hedge Funds Weigh In On Banco Santander

Hedge funds and other institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of Banco Santander in the 2nd quarter worth about $25,000. Root Financial Partners LLC bought a new position in Banco Santander in the 3rd quarter worth about $25,000. True Wealth Design LLC bought a new stake in shares of Banco Santander during the third quarter valued at approximately $27,000. Westside Investment Management Inc. acquired a new position in shares of Banco Santander during the second quarter worth approximately $30,000. Finally, Atlantic Union Bankshares Corp bought a new position in Banco Santander in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 9.19% of the company’s stock.

About Banco Santander

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.