PNC Financial Services Group Inc. Boosts Stake in Banco Santander, S.A. $SAN

PNC Financial Services Group Inc. boosted its holdings in shares of Banco Santander, S.A. (NYSE:SAN) by 10.9% during the 2nd quarter, Holdings Channel reports. The firm owned 331,731 shares of the bank’s stock after buying an additional 32,554 shares during the period. PNC Financial Services Group Inc.’s holdings in Banco Santander were worth $2,753,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new position in Banco Santander in the second quarter worth about $25,000. Westside Investment Management Inc. purchased a new stake in Banco Santander in the 2nd quarter valued at about $30,000. Atlantic Union Bankshares Corp bought a new position in Banco Santander in the second quarter worth approximately $30,000. Dogwood Wealth Management LLC purchased a new position in shares of Banco Santander during the second quarter valued at $33,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of Banco Santander by 35,550.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 4,991 shares of the bank’s stock worth $41,000 after purchasing an additional 4,977 shares during the last quarter. 9.19% of the stock is owned by hedge funds and other institutional investors.

Banco Santander Stock Down 2.5%

Shares of Banco Santander stock opened at $10.15 on Wednesday. Banco Santander, S.A. has a 52 week low of $4.43 and a 52 week high of $11.13. The firm has a market capitalization of $151.01 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.70 and a beta of 1.05. The firm’s 50 day moving average is $10.16 and its two-hundred day moving average is $9.10.

Banco Santander (NYSE:SAN) last posted 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 return on equity of 11.92% and a net margin of 17.90%.The company had revenue of $17.80 billion for the quarter, compared to analyst estimates of $15.32 billion. Banco Santander has set its FY 2025 guidance at EPS. As a group, research analysts expect that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Banco Santander Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, November 6th. Stockholders of record on Friday, October 31st were issued a dividend of $0.0956 per share. This represents a dividend yield of 263.0%. The ex-dividend date was Friday, October 31st. Banco Santander’s dividend payout ratio is presently 19.15%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SAN. The Goldman Sachs Group downgraded Banco Santander from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Banco Santander in a research note on Wednesday, October 8th. Kepler Capital Markets downgraded shares of Banco Santander from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Finally, Zacks Research upgraded Banco Santander from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Banco Santander 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.