Banco Santander, S.A. (NYSE:SAN) Stock Position Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Banco Santander, S.A. (NYSE:SAN) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,184,064 shares of the bank’s stock after selling 288,601 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Banco Santander were worth $7,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SAN. Bank of New York Mellon Corp raised its position in shares of Banco Santander by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 715,939 shares of the bank’s stock valued at $4,797,000 after purchasing an additional 47,000 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Banco Santander in the 1st quarter valued at $28,000. Checchi Capital Advisers LLC lifted its position in Banco Santander by 19.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 66,915 shares of the bank’s stock worth $448,000 after buying an additional 11,086 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Banco Santander by 139.7% during the 1st quarter. Strategic Financial Concepts LLC now owns 32,765 shares of the bank’s stock worth $220,000 after buying an additional 19,095 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in Banco Santander by 5.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 114,943 shares of the bank’s stock worth $770,000 after purchasing an additional 5,759 shares during the last quarter. 9.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on SAN. Citigroup assumed coverage on Banco Santander in a research report on Wednesday, June 4th. They issued a “buy” rating on the stock. Wall Street Zen raised Banco Santander from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Banco Santander presently has a consensus rating of “Buy”.

Banco Santander Trading Up 0.5%

SAN opened at $8.49 on Tuesday. The firm has a market cap of $126.30 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.94 and a beta of 0.99. The stock has a fifty day moving average price of $8.11 and a 200-day moving average price of $6.84. Banco Santander, S.A. has a 12 month low of $4.27 and a 12 month high of $8.90.

Banco Santander (NYSE:SAN) last announced its earnings results on Wednesday, April 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Banco Santander had a return on equity of 12.26% and a net margin of 16.92%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $15.94 billion. On average, equities research analysts forecast that Banco Santander, S.A. will post 0.83 EPS for the current year.

Banco Santander Profile

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.