Oppenheimer Asset Management Inc. Trims Stock Position in Banco Santander, S.A. (NYSE:SAN)

Oppenheimer Asset Management Inc. reduced its stake in shares of Banco Santander, S.A. (NYSE:SAN) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 360,070 shares of the bank’s stock after selling 48,509 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Banco Santander were worth $2,412,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of Banco Santander by 2,226.3% during the 4th quarter. Larson Financial Group LLC now owns 5,839 shares of the bank’s stock valued at $27,000 after buying an additional 5,588 shares in the last quarter. WealthCollab LLC boosted its holdings in shares of Banco Santander by 35.1% during the 4th quarter. WealthCollab LLC now owns 7,801 shares of the bank’s stock valued at $36,000 after buying an additional 2,028 shares in the last quarter. Prospect Financial Group LLC bought a new stake in shares of Banco Santander during the 4th quarter valued at $46,000. HUB Investment Partners LLC bought a new stake in shares of Banco Santander during the 4th quarter valued at $47,000. Finally, Jackson Thornton Wealth Management LLC bought a new stake in shares of Banco Santander during the 4th quarter valued at $53,000. 9.19% of the stock is owned by hedge funds and other institutional investors.

Banco Santander Stock Up 0.6%

Shares of NYSE:SAN opened at $8.08 on Friday. The firm’s 50 day moving average price is $7.68 and its 200-day moving average price is $6.38. Banco Santander, S.A. has a twelve month low of $4.27 and a twelve month high of $8.39. The stock has a market capitalization of $122.36 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.87 and a beta of 1.00.

Banco Santander (NYSE:SAN) last issued its quarterly earnings data on Wednesday, April 30th. The bank reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. Banco Santander had a net margin of 16.92% and a return on equity of 12.26%. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $15.94 billion. Analysts expect that Banco Santander, S.A. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SAN shares. Citigroup started coverage on shares of Banco Santander in a research note on Wednesday, June 4th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Banco Santander from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “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.