Tue Sep 17 07:20:51 UTC 2024: ## Bank of New York Mellon Boosts Stake in Banco Santander, Joining Other Investors in Bullish Move

**New York, NY (MarketBeat News) -** Bank of New York Mellon Corp has upped its holdings in Spanish banking giant Banco Santander (NYSE: SAN) by 4.3% during the second quarter, according to a recent SEC filing. This move comes amidst a wave of institutional investor activity in the company, with several others increasing their stakes as well.

CIBC Private Wealth Group LLC, BNP Paribas Financial Markets, Goldman Sachs Group Inc., RWA Wealth Partners LLC, and Teachers Retirement System of The State of Kentucky all saw their holdings in Banco Santander increase significantly in recent quarters, demonstrating a shared confidence in the bank’s future prospects.

Institutional investors and hedge funds now own a combined 9.19% of Banco Santander’s stock, further highlighting the growing interest in the company.

This surge in investor confidence comes on the heels of positive analyst reports, including UBS Group’s upgrade of Banco Santander from “hold” to “strong-buy” in early September. While StockNews.com downgraded the stock to “buy”, the general consensus among analysts remains optimistic.

Banco Santander itself reported strong second quarter earnings, meeting analysts’ expectations with $0.22 earnings per share and $16.87 billion in revenue. Equities analysts are forecasting a full-year earnings per share of $0.83 for the company.

Banco Santander’s stock opened at $4.97 on Tuesday, with a market capitalization of $78.57 billion. The company provides a wide range of financial services globally, including retail banking, corporate and investment banking, wealth management and insurance, and payment solutions.

This recent surge in investor interest indicates a bullish outlook on Banco Santander’s future performance, further solidified by strong earnings and positive analyst sentiment.

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