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Opinions Rick Stuchberry
Banco Santander SASANBUYSep 14, 2016
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
He owns this in order to be ready for when reforms go through in the EU and things start to get better. Although a Spanish bank, more sales come out of England than they do out of Spain. It is also very big in Brazil. European banks have been hindered because there is a reform coming to the banking system. There has been a little apprehension about the BREXIT, because so much of their business is done in the UK. Their operations are good and they have a reasonable dividend. (See Top Picks.)