Banco Santander: Starting To Get Its Due From The Market
Source: SeekingAlpha
2025-02-22 05:22:10 ET
Summary
- Banco Santander has been a strong performer since my last update, with good fourth quarter results and bullish FY2025 guidance driving the shares back over tangible book value.
- Management expects Santander to deliver a strong 16.5% return on tangible equity this year. Given the current P/TBVPS multiple, this would imply a P/E of just ~7x.
- While the higher share price would have lowered the stock's total yield based on Santander's usual 50% payout ratio, capital returns for 2025-2026 have been upped by roughly €4 billion.
Shares of Banco Santander ( SAN ) have been a strong performer since my last update in October, with robust fourth quarter results and bullish FY2025 guidance powering a ~26% total return for the ADSs....
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Banco Santander: Starting To Get Its Due From The Market
Banco Santander S.A.
NASDAQ: BCDRF
BCDRF Trading
5.12% G/L:
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379,015 Volume:
$12.70 Open:
