Raymond James Financial Inc. Trims Holdings in Banco Santander, S.A. $SAN

Raymond James Financial Inc. cut its position in shares of Banco Santander, S.A. (NYSE:SAN) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 666,560 shares of the bank’s stock after selling 61,278 shares during the quarter. Raymond James Financial Inc.’s holdings in Banco Santander were worth $4,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. HBK Sorce Advisory LLC grew its stake in Banco Santander by 9.8% in the 1st quarter. HBK Sorce Advisory LLC now owns 19,206 shares of the bank’s stock worth $129,000 after acquiring an additional 1,711 shares during the period. May Hill Capital LLC grew its position in shares of Banco Santander by 12.8% in the first quarter. May Hill Capital LLC now owns 21,917 shares of the bank’s stock valued at $147,000 after purchasing an additional 2,481 shares during the period. Verdence Capital Advisors LLC increased its stake in Banco Santander by 6.5% in the first quarter. Verdence Capital Advisors LLC now owns 45,236 shares of the bank’s stock valued at $303,000 after purchasing an additional 2,755 shares during the last quarter. Ellevest Inc. lifted its position in Banco Santander by 8.4% during the fourth quarter. Ellevest Inc. now owns 42,042 shares of the bank’s stock worth $192,000 after buying an additional 3,263 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Banco Santander by 3.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,489 shares of the bank’s stock worth $600,000 after buying an additional 3,317 shares during the last quarter. Hedge funds and other institutional investors own 9.19% of the company’s stock.

Banco Santander Stock Performance

SAN stock opened at $9.53 on Friday. The firm has a market cap of $141.78 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. Banco Santander, S.A. has a 1 year low of $4.43 and a 1 year high of $9.82. The stock has a 50-day simple moving average of $9.00 and a 200-day simple moving average of $7.79.

Banco Santander (NYSE:SAN) last released its quarterly earnings results on Wednesday, July 30th. The bank reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.04). The company had revenue of $17.83 billion during the quarter, compared to analysts’ expectations of $17.69 billion. Banco Santander had a return on equity of 11.98% and a net margin of 17.30%. Banco Santander has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Banco Santander, S.A. will post 0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SAN shares. Citigroup started coverage on shares of Banco Santander in a report on Wednesday, June 4th. They set a “buy” rating on the stock. Wall Street Zen raised shares of Banco Santander from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Finally, Kepler Capital Markets lowered shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Banco Santander Company 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.