Pinnacle Associates Ltd. Increases Stock Position in Banco Santander, S.A. $SAN

Pinnacle Associates Ltd. boosted its stake in shares of Banco Santander, S.A. (NYSE:SAN) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,085 shares of the bank’s stock after buying an additional 13,511 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Banco Santander were worth $1,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in shares of Banco Santander in the second quarter valued at approximately $25,000. Dogwood Wealth Management LLC purchased a new position in shares of Banco Santander in the second quarter valued at approximately $33,000. Wayfinding Financial LLC purchased a new position in shares of Banco Santander in the first quarter valued at approximately $28,000. Whipplewood Advisors LLC boosted its stake in shares of Banco Santander by 35,550.0% in the second quarter. Whipplewood Advisors LLC now owns 4,991 shares of the bank’s stock valued at $41,000 after purchasing an additional 4,977 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in shares of Banco Santander by 478.8% in the second quarter. TD Private Client Wealth LLC now owns 5,203 shares of the bank’s stock valued at $43,000 after purchasing an additional 4,304 shares during the period. Hedge funds and other institutional investors own 9.19% of the company’s stock.

Banco Santander Stock Down 0.7%

Shares of NYSE:SAN opened at $10.17 on Monday. The firm’s 50 day moving average price is $9.94 and its 200 day moving average price is $8.81. The stock has a market cap of $151.31 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.02. Banco Santander, S.A. has a fifty-two week low of $4.43 and a fifty-two week high of $10.50.

Banco Santander (NYSE:SAN) last issued its earnings results 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 firm had revenue of $17.80 billion during the quarter, compared to analyst estimates of $15.32 billion. Banco Santander had a net margin of 17.90% and a return on equity of 11.92%. Banco Santander has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Banco Santander, S.A. will post 0.83 EPS for the current year.

Banco Santander Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, November 6th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.0956 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a yield of 263.0%. Banco Santander’s dividend payout ratio (DPR) is presently 20.21%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SAN. The Goldman Sachs Group lowered shares of Banco Santander from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 16th. Zacks Research raised shares of Banco Santander from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “buy (b+)” rating on shares of Banco Santander in a research note on Wednesday, October 8th. Finally, Kepler Capital Markets cut shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

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.