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Opinions Rick Stuchberry
Banco Santander SASANCOMMENTJun 18, 2014
Rick StuchberryStock 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
This has a lot of credentials as to why you might want to look at it. It is in Spain, but is actually bigger in Britain than it is in Spain, and bigger in Brazil than it is in Europe. Also, has exposure to Mexico and the US. Has a really nice dividend on it. Thinks it can go $12-$14.