Pitcairn Co. Trims Stake in Banco Santander, S.A. (NYSE:SAN)

Pitcairn Co. lessened its holdings in Banco Santander, S.A. (NYSE:SAN) by 10.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,165 shares of the bank’s stock after selling 8,397 shares during the period. Pitcairn Co.’s holdings in Banco Santander were worth $353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of Banco Santander by 5.0% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 5,066,760 shares of the bank’s stock valued at $23,459,000 after acquiring an additional 242,000 shares during the last quarter. American Century Companies Inc. lifted its position in Banco Santander by 6.2% during the second quarter. American Century Companies Inc. now owns 3,091,293 shares of the bank’s stock valued at $14,313,000 after purchasing an additional 181,558 shares during the last quarter. QRG Capital Management Inc. grew its stake in Banco Santander by 3.2% in the 3rd quarter. QRG Capital Management Inc. now owns 1,690,877 shares of the bank’s stock worth $8,623,000 after buying an additional 53,039 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Banco Santander by 5.5% during the 3rd quarter. Natixis Advisors LLC now owns 1,399,228 shares of the bank’s stock valued at $7,136,000 after buying an additional 73,204 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Banco Santander by 13.5% during the 3rd quarter. Creative Planning now owns 1,341,733 shares of the bank’s stock worth $6,843,000 after acquiring an additional 159,610 shares during the last quarter. 9.19% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander Stock Performance

NYSE SAN opened at $4.61 on Wednesday. The company has a 50-day simple moving average of $4.92 and a two-hundred day simple moving average of $4.87. Banco Santander, S.A. has a 12-month low of $3.83 and a 12-month high of $5.27. The firm has a market cap of $72.96 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 0.43 and a beta of 1.14. The company has a quick ratio of 0.23, a current ratio of 0.33 and a debt-to-equity ratio of 3.08.

Banco Santander Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 6th. Investors of record on Thursday, October 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a yield of 3%. Banco Santander’s payout ratio is 20.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley upgraded Banco Santander from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. StockNews.com downgraded Banco Santander from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, UBS Group upgraded shares of Banco Santander from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 4th.

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.