Moors & Cabot Inc. increased its position in Banco Santander SA (NYSE:SAN) by 97.1% in the first quarter, Holdings Channel reports. The fund owned 101,280 shares of the bank’s stock after buying an additional 49,906 shares during the period. Moors & Cabot Inc.’s holdings in Banco Santander were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of SAN. Global Retirement Partners LLC raised its stake in Banco Santander by 46,183.3% in the 4th quarter. Global Retirement Partners LLC now owns 5,554 shares of the bank’s stock worth $25,000 after acquiring an additional 5,542 shares during the last quarter. Enterprise Financial Services Corp raised its stake in Banco Santander by 85.6% in the 1st quarter. Enterprise Financial Services Corp now owns 5,370 shares of the bank’s stock worth $25,000 after acquiring an additional 2,477 shares during the last quarter. Lenox Wealth Management Inc. raised its stake in Banco Santander by 1,064.1% in the 4th quarter. Lenox Wealth Management Inc. now owns 5,844 shares of the bank’s stock worth $26,000 after acquiring an additional 5,342 shares during the last quarter. Ipswich Investment Management Co. Inc. purchased a new position in Banco Santander in the 4th quarter worth $30,000. Finally, Sontag Advisory LLC purchased a new position in Banco Santander in the 4th quarter worth $40,000. Institutional investors own 1.89% of the company’s stock.
SAN has been the subject of a number of recent research reports. ValuEngine lowered Banco Santander from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 11th. Zacks Investment Research upgraded Banco Santander from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Royal Bank of Canada upgraded Banco Santander from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, March 13th. TheStreet lowered Banco Santander from an “a-” rating to a “d” rating in a research note on Thursday, February 7th. Finally, Morgan Stanley upgraded Banco Santander from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $5.75.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.052 per share. The ex-dividend date was Monday, April 29th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 4.45%. This is a positive change from Banco Santander’s previous quarterly dividend of $0.05. Banco Santander’s dividend payout ratio (DPR) is presently 38.18%.
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Banco Santander Company Profile
Banco Santander, SA, together with its subsidiaries, provides various retail and commercial banking products and services for individual and corporate clients worldwide. It offers demand and time deposits, and current and savings accounts; mortgages, consumer finance, auto finance, and personal loans; export and agency finance, trade and working capital solutions, syndicated corporate loans, and structured financing; debt capital markets and global markets services; and debit and credit cards.
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