Legacy Wealth Asset Management LLC Sells 54,987 Shares of Banco Santander, S.A. (NYSE:SAN)

Legacy Wealth Asset Management LLC lessened its holdings in Banco Santander, S.A. (NYSE:SAN) by 18.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 237,421 shares of the bank’s stock after selling 54,987 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Banco Santander were worth $1,211,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. boosted its position in shares of Banco Santander by 1,853.0% during the 1st quarter. Financial Management Professionals Inc. now owns 8,359 shares of the bank’s stock valued at $40,000 after acquiring an additional 7,931 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Banco Santander during the first quarter valued at approximately $157,000. Quattro Financial Advisors LLC purchased a new position in Banco Santander in the 1st quarter worth approximately $131,000. Naviter Wealth LLC raised its position in shares of Banco Santander by 25.8% during the 1st quarter. Naviter Wealth LLC now owns 315,112 shares of the bank’s stock valued at $1,525,000 after buying an additional 64,625 shares in the last quarter. Finally, Norden Group LLC bought a new stake in shares of Banco Santander during the 1st quarter worth $52,000. Institutional investors own 9.19% of the company’s stock.

Banco Santander Price Performance

Shares of SAN opened at $4.92 on Friday. The firm has a market cap of $77.78 billion, a P/E ratio of 6.83, a P/E/G ratio of 0.44 and a beta of 1.14. Banco Santander, S.A. has a 1 year low of $3.60 and a 1 year high of $5.27. The stock has a 50 day simple moving average of $4.93 and a two-hundred day simple moving average of $4.88.

Banco Santander (NYSE:SAN) last released its earnings results on Wednesday, July 24th. The bank reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Banco Santander had a net margin of 15.35% and a return on equity of 11.42%. The company had revenue of $16.87 billion for the quarter. On average, equities analysts anticipate that Banco Santander, S.A. will post 0.83 earnings per share for the current year.

Banco Santander Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Thursday, October 31st will be issued a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a dividend yield of 3%. Banco Santander’s dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded 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.