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Opinions David Driscoll
Banco Santander SASANCOMMENTOct 04, 2017
David DriscollStock 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 is up 15% this year, but is starting to slow down because of what is going on in Spain. If Catalan were to break away, the Basque people would want to break away as well. Outside of Spain, England retail is doing fine. The US is a little dicey. Loan growth is -.03%. Dividend yield of 3.5%.