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Banco Santander SASANHOLDAug 01, 2018Stock price when the opinion was issued
As of Jun 18, 2026. Market Open.
He 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.
This bank had some issues a few years ago. The dividend is secure, he believes. Europe is in recovery mode and there is good growth opportunity with this holding.