PNC Financial Services Group Inc. Sells 214,262 Shares of Banco Santander, S.A. (NYSE:SAN)

PNC Financial Services Group Inc. cut its stake in Banco Santander, S.A. (NYSE:SANGet Rating) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,023,713 shares of the bank’s stock after selling 214,262 shares during the period. PNC Financial Services Group Inc.’s holdings in Banco Santander were worth $6,839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SAN. CWM LLC grew its position in Banco Santander by 120.1% in the 1st quarter. CWM LLC now owns 9,970 shares of the bank’s stock worth $34,000 after purchasing an additional 5,441 shares during the period. Ieq Capital LLC purchased a new position in shares of Banco Santander in the 1st quarter worth $35,000. Avantax Advisory Services Inc. bought a new stake in shares of Banco Santander in the first quarter worth $35,000. Regal Investment Advisors LLC purchased a new stake in Banco Santander during the fourth quarter valued at $37,000. Finally, Fieldpoint Private Securities LLC boosted its position in Banco Santander by 3,249.2% in the first quarter. Fieldpoint Private Securities LLC now owns 11,086 shares of the bank’s stock worth $37,000 after purchasing an additional 10,755 shares during the last quarter. 2.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Banco Santander from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. UBS Group downgraded shares of Banco Santander to a “neutral” rating in a research report on Tuesday, August 9th. Morgan Stanley decreased their target price on Banco Santander from €4.30 ($4.39) to €4.00 ($4.08) and set an “equal weight” rating on the stock in a report on Monday, August 1st. Royal Bank of Canada cut their price target on Banco Santander from €3.10 ($3.16) to €3.00 ($3.06) in a report on Thursday, August 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Banco Santander from €3.90 ($3.98) to €3.50 ($3.57) in a report on Thursday, May 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.78.

Banco Santander Stock Performance

Shares of SAN stock opened at $2.35 on Friday. Banco Santander, S.A. has a fifty-two week low of $2.28 and a fifty-two week high of $4.01. The firm has a market capitalization of $39.47 billion, a price-to-earnings ratio of 4.17 and a beta of 1.17. The stock’s 50-day simple moving average is $2.57 and its 200-day simple moving average is $2.98.

Banco Santander Company Profile

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Banco Santander, SA provides various retail and commercial banking products and services to individuals, small and medium-sized enterprises, and large companies worldwide. It offers demand and time deposits, and current and savings accounts; mortgages, consumer finance, syndicated corporate loans, structured financing, cash management, export and agency finance, trade and working capital solutions, and corporate finance; and insurance products.

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Institutional Ownership by Quarter for Banco Santander (NYSE:SAN)

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