Banco Santander (NYSE:SAN) Hits New 12-Month High – Here’s Why

Shares of Banco Santander, S.A. (NYSE:SAN) hit a new 52-week high on Friday . The stock traded as high as $11.15 and last traded at $11.0250, with a volume of 362991 shares traded. The stock had previously closed at $11.04.

Analysts Set New Price Targets

A number of equities research analysts have commented on SAN shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of Banco Santander in a research note on Wednesday, October 8th. 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. Finally, Zacks Research lowered shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Banco Santander Trading Down 0.5%

The business’s 50-day simple moving average is $10.27 and its 200-day simple moving average is $9.34. The company has a market capitalization of $163.52 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.68 and a beta of 0.74.

Banco Santander (NYSE:SAN) last issued its earnings results on Wednesday, October 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Banco Santander had a return on equity of 11.68% and a net margin of 17.90%.The business had revenue of $20.94 billion for the quarter, compared to analysts’ expectations of $15.32 billion. Sell-side analysts forecast that Banco Santander, S.A. will post 0.83 EPS for the current fiscal year.

Banco Santander Dividend Announcement

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

Institutional Investors Weigh In On Banco Santander

Several hedge funds have recently bought and sold shares of the stock. Richardson Financial Services Inc. acquired a new position in shares of Banco Santander in the 2nd quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in shares of Banco Santander during the 3rd quarter worth about $25,000. True Wealth Design LLC acquired a new stake in shares of Banco Santander during the 3rd quarter valued at about $27,000. Westside Investment Management Inc. purchased a new position in shares of Banco Santander in the 2nd quarter valued at about $30,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Banco Santander in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 9.19% of the company’s stock.

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.