Chevy Chase Trust Holdings LLC Invests $22.50 Million in Banco Santander, S.A. (NYSE:SAN)

Chevy Chase Trust Holdings LLC bought a new stake in shares of Banco Santander, S.A. (NYSE:SAN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,411,684 shares of the bank’s stock, valued at approximately $22,500,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its stake in Banco Santander by 16.1% during the 1st quarter. Cetera Advisors LLC now owns 20,308 shares of the bank’s stock valued at $98,000 after buying an additional 2,822 shares during the period. GAMMA Investing LLC raised its position in Banco Santander by 16.8% in the second quarter. GAMMA Investing LLC now owns 24,719 shares of the bank’s stock worth $114,000 after acquiring an additional 3,563 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Banco Santander by 19.4% in the 2nd quarter. Park Avenue Securities LLC now owns 143,729 shares of the bank’s stock valued at $665,000 after acquiring an additional 23,333 shares during the last quarter. Aprio Wealth Management LLC grew its stake in shares of Banco Santander by 15.6% in the 2nd quarter. Aprio Wealth Management LLC now owns 22,405 shares of the bank’s stock worth $104,000 after purchasing an additional 3,028 shares during the last quarter. Finally, OLD National Bancorp IN lifted its stake in Banco Santander by 13.7% during the second quarter. OLD National Bancorp IN now owns 36,290 shares of the bank’s stock valued at $168,000 after purchasing an additional 4,372 shares during the last quarter. Institutional investors and hedge funds own 9.19% of the company’s stock.

Banco Santander Stock Performance

Shares of SAN stock opened at $4.64 on Wednesday. Banco Santander, S.A. has a 1-year low of $3.83 and a 1-year high of $5.27. The company has a market capitalization of $73.43 billion, a price-to-earnings ratio of 5.80, a P/E/G ratio of 0.44 and a beta of 1.12. The company has a current ratio of 0.33, a quick ratio of 0.23 and a debt-to-equity ratio of 3.08. The stock’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $4.85.

Banco Santander Cuts Dividend

The business also recently disclosed 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. This represents a yield of 3%. The ex-dividend date was Thursday, October 31st. Banco Santander’s payout ratio is presently 20.00%.

Analysts Set New Price Targets

Several research analysts have issued reports on SAN shares. UBS Group raised Banco Santander from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 4th. Morgan Stanley raised Banco Santander from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 26th. Finally, StockNews.com raised shares of Banco Santander from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

Banco Santander Company 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.