CIBC Asset Management Inc Increases Stake in Banco Santander, S.A. $SAN

CIBC Asset Management Inc boosted its stake in Banco Santander, S.A. (NYSE:SAN) by 113.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,930 shares of the bank’s stock after purchasing an additional 44,089 shares during the quarter. CIBC Asset Management Inc’s holdings in Banco Santander were worth $869,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SAN. Chevy Chase Trust Holdings LLC grew its stake in shares of Banco Santander by 22.0% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 14,482,986 shares of the bank’s stock valued at $120,209,000 after buying an additional 2,607,392 shares during the period. Lazard Asset Management LLC grew its position in Banco Santander by 2,038,075.5% during the second quarter. Lazard Asset Management LLC now owns 7,643,158 shares of the bank’s stock valued at $63,438,000 after acquiring an additional 7,642,783 shares during the period. Bank of America Corp DE increased its stake in Banco Santander by 68.5% during the second quarter. Bank of America Corp DE now owns 4,778,086 shares of the bank’s stock worth $39,658,000 after acquiring an additional 1,942,579 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Banco Santander by 9.5% in the 2nd quarter. American Century Companies Inc. now owns 3,614,912 shares of the bank’s stock worth $30,004,000 after purchasing an additional 315,032 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Banco Santander by 153.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,001,256 shares of the bank’s stock valued at $24,910,000 after purchasing an additional 1,817,192 shares in the last quarter. Hedge funds and other institutional investors own 9.19% of the company’s stock.

Analysts Set New Price Targets

SAN has been the topic of several research reports. Zacks Research lowered shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. The Goldman Sachs Group lowered shares of Banco Santander from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “buy (b+)” rating on shares of Banco Santander in a report on Wednesday, January 21st. Kepler Capital Markets upgraded Banco Santander from a “hold” rating to a “buy” rating in a report on Tuesday, January 13th. Finally, UBS Group cut Banco Santander from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Banco Santander Stock Performance

NYSE:SAN opened at $12.68 on Thursday. The stock has a market cap of $188.67 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.78 and a beta of 0.73. Banco Santander, S.A. has a one year low of $4.85 and a one year high of $13.05. The business’s 50-day simple moving average is $11.60 and its 200 day simple moving average is $10.37.

Banco Santander (NYSE:SAN) last issued its quarterly earnings data on Wednesday, October 29th. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Banco Santander had a net margin of 17.90% and a return on equity of 11.68%. The business had revenue of $26.22 billion for the quarter, compared to analyst estimates of $15.32 billion. On average, equities research analysts predict that Banco Santander, S.A. will post 0.83 EPS for the current year.

Banco Santander Profile

Banco Santander, SA (NYSE: SAN) is a Spanish multinational banking group headquartered in Santander, Spain. Founded in 1857, the bank has grown from a regional institution into one of Europe’s largest banking groups, operating a diversified financial services platform that serves retail, small and medium-sized enterprises, and large corporate clients. Santander is publicly listed in Spain and maintains American Depositary Receipts on the New York Stock Exchange under the ticker SAN.

The group’s core activities include retail and commercial banking—offering deposit accounts, payment services, mortgages, personal and auto loans, and small business financing—alongside corporate and investment banking services for larger institutional clients.