QRG Capital Management Inc. Boosts Stake in Banco Santander, S.A. (NYSE:SAN)

QRG Capital Management Inc. increased its stake in shares of Banco Santander, S.A. (NYSE:SAN) by 6.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,935,314 shares of the bank’s stock after purchasing an additional 118,508 shares during the period. QRG Capital Management Inc.’s holdings in Banco Santander were worth $12,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SAN. Allspring Global Investments Holdings LLC boosted its position in shares of Banco Santander by 15.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 109,187 shares of the bank’s stock worth $490,000 after purchasing an additional 14,894 shares during the period. Principal Securities Inc. boosted its position in shares of Banco Santander by 13.4% during the 4th quarter. Principal Securities Inc. now owns 17,230 shares of the bank’s stock worth $79,000 after purchasing an additional 2,032 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Banco Santander during the 4th quarter worth approximately $62,000. Sierra Ocean LLC purchased a new position in shares of Banco Santander during the 4th quarter worth approximately $32,000. Finally, CIBC Asset Management Inc purchased a new position in Banco Santander in the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 9.19% of the company’s stock.

Wall Street Analysts Forecast Growth

SAN has been the subject of several recent research reports. Wall Street Zen raised shares of Banco Santander from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Citigroup initiated coverage on shares of Banco Santander in a research report on Wednesday, June 4th. They issued a “buy” rating for the company. Finally, Keefe, Bruyette & Woods raised shares of Banco Santander from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

Banco Santander Stock Performance

Shares of SAN stock opened at $8.32 on Tuesday. Banco Santander, S.A. has a 52 week low of $4.27 and a 52 week high of $8.39. The firm has a 50 day moving average of $7.44 and a two-hundred day moving average of $6.22. The stock has a market capitalization of $125.99 billion, a PE ratio of 10.02, a P/E/G ratio of 0.77 and a beta of 1.00. The company has a quick ratio of 0.23, a current ratio of 2.24 and a debt-to-equity ratio of 13.83.

Banco Santander (NYSE:SAN) last announced its quarterly earnings data on Wednesday, April 30th. The bank reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. Banco Santander had a net margin of 15.88% and a return on equity of 11.90%. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $15.94 billion. On average, research analysts predict that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

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.