Banco Santander: Trading At Less Than 0.6 Times TBV And 5 Times Earnings

Sep. 29, 2022 11:30 AM ETBanco Santander, S.A. (SAN)7 Comments

Summary

  • Banco Santander is a Spanish bank, but generates most of its income from abroad.
  • The share price has been sliding as recession fears are hitting the world economy.
  • I still expect a full-year EPS north of 0.50 EUR, making the bank cheap.
  • Looking for a helping hand in the market? Members of European Small-Cap Ideas get exclusive ideas and guidance to navigate any climate. Learn More »

Entrance to bank Santander office in Almeria, Spain.

Lux Blue

Introduction

Nine months after my previous article on Banco Santander (NYSE:SAN) wherein I discussed the bank's new dividend policy, the share price is trading approximately 25% lower. Of course, the entire European banking sector has been hit hard by

Chart
Data by YCharts

Income Statement

Banco Santander Investor Relations

EPS and TBV evolution

Banco Santander Investor Relations

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This article was written by

The Investment Doctor profile picture
18.23K Followers
We zoom in on capital gains and dividend income in European small-caps
As I'm a long-term investor, I'll highlight some stockpicks which will have a 5-7 year investment horizon. As I strongly believe a portfolio should consist of a mixture of dividend-paying stocks and growth stocks, my articles will reflect my thoughts on this mixture.

Disclosure: I/we have a beneficial long position in the shares of SAN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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