Summit Global Investments Reduces Stake in Banco Santander, S.A. (NYSE:SAN)

Summit Global Investments has reduced its stake in Banco Santander, S.A. (NYSE:SAN) by 23.8% during the third quarter of the year. According to the firm’s latest filing with the Securities and Exchange Commission (SEC), it currently holds 134,491 shares of the bank after selling 42,121 shares in the quarter. At the close of the recent quarter, Summit Global Investments' holdings in Banco Santander were valued at approximately $686,000.

In addition to Summit Global's actions, several other hedge funds have made changes to their positions in Banco Santander. Rothschild Investment LLC acquired a new stake in the bank's shares during the second quarter for about $33,000. Similarly, Planned Solutions Inc. invested around $47,000, and AE Wealth Management LLC also took a position valued at approximately $50,000 during the same period. Norden Group LLC made an investment worth about $52,000 in the first quarter, while Brookstone Capital Management took a position valued around $54,000 in the third quarter. Currently, institutional investors own about 9.19% of Banco Santander's total stock.

Current Stock Performance

As of Friday, Banco Santander's stock (SAN) opened at $4.74, down by 2.3%. The bank has a debt-to-equity ratio of 3.08, with a quick ratio of 0.23 and a current ratio of 0.33. Over the past fifty-two weeks, the stock has reached a low of $3.78 and a high of $5.27. The company’s 50-day simple moving average stands at $4.95, with a 200-day simple moving average of $4.89. Banco Santander has a market capitalization of $75.01 billion, a price-to-earnings (P/E) ratio of 5.93, a price-to-earnings-growth (PEG) ratio of 0.46, and a beta of 1.14.

Dividend Announcement

Recently, Banco Santander announced a Semi-Annual dividend which was paid on November 6th. Shareholders who were on record as of October 31st received a dividend of $0.08 per share, equating to a dividend yield of 3%. The ex-dividend date for this announcement was also October 31st. The bank's current dividend payout ratio is 20.00%.

Analyst Ratings

Banco Santander has been featured in multiple research analyst reports. Notably, UBS Group upgraded the bank's rating from “hold” to “strong-buy” in a report released on September 4th. Similarly, StockNews.com upgraded its assessment from a “hold” to a “buy” rating as of the latest report.

About Banco Santander

Banco Santander, S.A. offers a wide range of financial services globally through various segments including Retail Banking, Santander Corporate & Investment Banking, Wealth Management & Insurance, and PagoNxt. The company provides demand and time deposits, mutual funds, current and savings accounts, as well as mortgages, consumer finance, loans, and many other financing solutions.

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