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Opinions Lorne Steinberg
Banco Santander SASANCOMMENTApr 23, 2014
Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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Chris StuchberryChris Stuchberry
Rick StuchberryInterest rates will go up after the ECB changes chairs in June 2019. Each quarter they put up $2 billion+ of net income and are trading a hair above book value now, plus negative sentiment to Euro banks now. (3.3% dividend yield, Analysts' price target: $106.76)
Chris StuchberryHe doesn’t own this, but he owns comparable banks. The whole global banking sector is trading at very cheap multiples. They are all under pressure from the flattening yield curve, and they all pay hefty dividends. The bank’s poor performance is sector-driven more than driven by the political issues in the countries where it does business.
He owns this as a European bank holding in the portfolio. The flat yield curve is holding them back. He will continue to hold it for when the yield curve normalizes.
Rick Stuchberry
Largest bank in Europe, but their major exposure is Spain as well as Latin America including Brazil and Argentina. High dividend yield which is supporting the share price. Not a cheap stock. Not that well situated compared to other banks that he is looking at. A rock solid bank and the dividend looks solid as well. 8.4% dividend yield.