Envestnet Asset Management Inc. Lowers Holdings in Banco Santander, S.A. (NYSE:SAN)

Envestnet Asset Management Inc. trimmed its holdings in Banco Santander, S.A. (NYSE:SAN) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,184,064 shares of the bank’s stock after selling 288,601 shares during the period. Envestnet Asset Management Inc.’s holdings in Banco Santander were worth $7,933,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SAN. Bank of New York Mellon Corp boosted its holdings in 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 purchased a new position in Banco Santander in the first quarter valued at $28,000. Checchi Capital Advisers LLC raised its stake in Banco Santander by 19.9% in the first quarter. Checchi Capital Advisers LLC now owns 66,915 shares of the bank’s stock valued at $448,000 after buying an additional 11,086 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in Banco Santander by 139.7% in the first quarter. Strategic Financial Concepts LLC now owns 32,765 shares of the bank’s stock valued at $220,000 after buying an additional 19,095 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in Banco Santander by 5.3% in the first quarter. Aaron Wealth Advisors LLC now owns 114,943 shares of the bank’s stock valued at $770,000 after buying an additional 5,759 shares in the last quarter. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander Trading Up 0.5%

Banco Santander stock opened at $8.49 on Tuesday. The company has a market cap of $126.30 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99. Banco Santander, S.A. has a 1-year low of $4.27 and a 1-year high of $8.90. The company has a fifty day simple moving average of $8.11 and a 200 day simple moving average of $6.84.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on SAN. Citigroup initiated coverage on Banco Santander in a report on Wednesday, June 4th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Banco Santander from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

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.