Banco Santander (NYSE:SAN) Reaches New 52-Week High – Should You Buy?

Banco Santander, S.A. (NYSE:SAN) hit a new 52-week high on Tuesday . The company traded as high as $13.78 and last traded at $13.8050, with a volume of 5046036 shares. The stock had previously closed at $13.65.

Wall Street Analyst Weigh In

SAN has been the subject of several recent research reports. Morgan Stanley upgraded Banco Santander from an “equal weight” rating to an “overweight” rating in a research note on Monday, March 23rd. Weiss Ratings downgraded Banco Santander from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Banco Santander from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Finally, Santander reaffirmed a “buy” rating on shares of Banco Santander in a research report on Tuesday, June 23rd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Banco Santander Stock Up 1.1%

The firm has a market capitalization of $202.79 billion, a P/E ratio of 11.41, a PEG ratio of 0.76 and a beta of 0.73. The firm has a 50 day moving average of $12.49 and a 200-day moving average of $12.10.

Banco Santander (NYSE:SAN) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). The company had revenue of $17.53 billion during the quarter, compared to analyst estimates of $17.66 billion. Banco Santander had a net margin of 26.92% and a return on equity of 12.23%. As a group, research analysts expect that Banco Santander, S.A. will post 1.11 EPS for the current year.

Institutional Trading of Banco Santander

Large investors have recently made changes to their positions in the company. Acumen Wealth Advisors LLC raised its position in Banco Santander by 117.9% during the first quarter. Acumen Wealth Advisors LLC now owns 2,308 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,249 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Banco Santander in the 1st quarter valued at $28,000. Eagle Bay Advisors LLC bought a new position in shares of Banco Santander in the 4th quarter valued at $31,000. Cullen Frost Bankers Inc. acquired a new position in shares of Banco Santander during the 4th quarter worth $34,000. Finally, Binnacle Investments Inc lifted its position in shares of Banco Santander by 96.2% during the 3rd quarter. Binnacle Investments Inc now owns 3,227 shares of the bank’s stock worth $34,000 after buying an additional 1,582 shares during the last quarter. Institutional investors and hedge funds own 9.19% of the company’s stock.

About Banco Santander

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.