Summer Sale
50% off Premium Yearly
Opinions David Driscoll
Banco Santander SASANDON'T BUYJan 11, 2018
Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
You might be interested:
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
The positive for this bank is that it is a retail global bank. They are in Europe, South America, Latin America and North America, but not a lot in Asia. The bad news is that there are political machinations going on in Spain that are not making people happy. Also, it is the largest car loan issuer in the US, and that is not going well. Raised the dividend 9% last year, but over the last 5 years it has fallen 13%.