Pitcairn Co. Sells 8,397 Shares of Banco Santander, S.A. (NYSE:SAN)

Pitcairn Co. lessened its holdings in Banco Santander, S.A. (NYSE:SAN) by 10.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,165 shares of the bank’s stock after selling 8,397 shares during the quarter. Pitcairn Co.’s holdings in Banco Santander were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Banco Santander Price Performance

Banco Santander stock opened at $4.61 on Wednesday. The company has a debt-to-equity ratio of 3.08, a current ratio of 0.33 and a quick ratio of 0.23. Banco Santander, S.A. has a one year low of $3.83 and a one year high of $5.27. The firm has a market capitalization of $72.96 billion, a P/E ratio of 5.76, a PEG ratio of 0.43 and a beta of 1.14. The business has a fifty day moving average price of $4.92 and a 200-day moving average price of $4.87.

Banco Santander Cuts Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 6th. Shareholders of record on Thursday, October 31st were issued 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%.

Wall Street Analysts Forecast Growth

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

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.