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


  • 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


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

Data by YCharts

Income Statement

Banco Santander Investor Relations

EPS and TBV evolution

Banco Santander Investor Relations

Consider joining European Small-Cap Ideas to gain exclusive access to actionable research on appealing Europe-focused investment opportunities, and to the real-time chat function to discuss ideas with similar-minded investors!

This article was written by

The Investment Doctor profile picture
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.

Recommended For You

Comments (7)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.