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Opinions Paul Harris, CFA
Banco Santander SASANBUYAug 09, 2017
Paul Harris, CFAStock 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
A very unique company. A Spanish bank with a Spanish retail business, but also has a big UK presence, and are very big in Latin and South America and certain parts of the southern US. They are in some very high growth areas. Acquired Banco Popular, which gives them a fairly good beachhead in real estate in Spain. He thinks you can see this company do very, very well. They are very big in auto loans in the US, which is something you have to keep an eye on. Not an expensive stock.