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Banco Santander SA Stock Symbol: SAN-N

Last Price Recorded: $6.4900 on 2017-06-23

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Date Signal Expert Opinion Price
2017-06-09 COMMENT Rick Stuchberry

Just announced they had acquired Banco Popular, a real estate lender, with a lot of loans in a very tough housing market. There is going to be a lot of work to be done. It is going to make them a real powerhouse in Spain. Their market share is going to be roughly 25% out of Brazil, 25% out of England, and this could equal that coming out of Spain. They still have European and US capabilities as well. The European banks have turned and there is lots of upside.


Price:
$6.840
Subject:
CANADIAN LARGE & iNTERNATIONAL ADR's
Bias:
UNKNOWN
Owned:
Yes
2017-06-08 HOLD Benj Gallander

He was looking at it below $5 and came close to buying it.  They have interesting operations in Brazil.  There is tremendous upside and the CEO has a good idea what she is doing.  It may come down.


Price:
$6.790
Subject:
CONTRARIAN and VALUE INVESTING
Bias:
CONTRARIAN
Owned:
Unknown
2017-05-05 COMMENT Darren Sissons

The largest Spanish bank, roughly equivalent in size to the Royal Bank (RY-T). It held up quite well during the global financial crisis, despite the fact that it had Latin American operations as well as significant exposure to the Spanish market. Quite an interesting story if you want to take European financial risks, in the context of perhaps a 2-year timeframe for rising rates. If you take that view, you could probably get a relatively cheaper American bank. However, this is an interesting opportunity. He is positively disposed to this at these levels.


Price:
$6.990
Subject:
GLOBAL EQUITIES & TECHNOLOGY
Bias:
UNKNOWN
Owned:
No
2017-05-04 PAST TOP PICK James Thorne

(Top Pick Feb 27/17, Up 27%) He still likes the company and is adding on every pullback.  There is going to be a resolution on zero interest rates and austerity.  He really likes European banks as well as US Banks.  Canadian banks are way too expensive.  You should stand back on UK banks because of BREXIT.  Greece will be a big beneficiary of all of this.


Price:
$6.750
Subject:
US DIVIDEND
Bias:
BEARISH on RESOURCES
Owned:
Yes
2017-04-20 BUY Mark Grammer

They are well positioned in emerging markets.  They have some of the strongest franchises in Latin American countries.  The Spanish economy is doing much better.  It is the favourite of the Spanish banks.


Price:
$6.070
Subject:
GLOBAL
Bias:
BULLISH on GLOBAL STOCKS
Owned:
Unknown
2017-03-21 HOLD David Dietze

A frustrating holding, but over the long haul, it is worth hanging in. Stocks based overseas, as a general proposition, have a lower valuation. Although Spanish based, it operates worldwide. Has a lot of operations in Mexico, US, Latin America and elsewhere in Europe. Valuation is very, very cheap. If you feel Europe can get out of its malaise and not disintegrate and people will gravitate back outside of the US for investment opportunities, then you are going to enjoy some dividends in the meantime, and this bank is a great way to play that trend. Dividend yield of 3.9%.


Price:
$6.000
Subject:
US EQUITIES
Bias:
CAUTIOUS
Owned:
Yes
2017-03-13 COMMENT David Driscoll

This hasn’t turned a corner yet. They are doing fine in Britain. Spain is still an issue. They are having problems in the US, Mexico and Brazil. This is emerging markets, and this is a common theme of many companies out there, especially the banks. You get a slowdown because of the rising US$. The net interest income growth is negative. Efficiency ratios are good and have their costs under control. The nonperforming loans are a little high, which has to do with Spain and Brazil. Trading at 12X earnings. He would be looking at Barclays (BCS-N) which wants to turn itself around and get its BBB credit rating back and are selling off assets in a big way. Tier 1 capital is starting to rise in a big way so it is becoming more profitable. There is also a Swedish bank, Svenska Handlesbanken (?) which has branches in Sweden, Norway, Finland, England, Lithuania, Latvia and Estonia. Their business model uses the steeple effect, where head office will give them the product, but it is up to the branch managers to climb to the top of the steeple and whatever they can see in 360° is their territory. They end up with having better margins and better efficiencies because the branch managers have to be accountable for their actions. Dividend has been growing at a 15% clip per year. A rise in interest rate will be beneficial for them.


Price:
$5.770
Subject:
GLOBAL
Bias:
CAUTIOUS
Owned:
Unknown
2017-02-27 TOP PICK James Thorne

European & Latin American bank.  The idea is that if it works in the US, then it will be copied in Europe, where banks are dirt cheap.  This theme has longer to go than the US financial theme.  (Analysts’ target: $4.27).


Price:
$5.360
Subject:
US DIVIDEND
Bias:
UNKNOWN
Owned:
Yes
2016-12-21 BUY Rick Stuchberry

About 25% in Brazil. Thinks European banks are in a position where the American banks were a few months ago. US banks have followed through and have been wonderful in the last couple of months, and the good European banks are ready to follow through.


Price:
$5.150
Subject:
CANADIAN LARGE & iNTERNATIONAL ADR's
Bias:
UNKNOWN
Owned:
Yes
2016-12-16 BUY Mark Grammer

Looking at the 10-year bond market, we are getting a steeper yield curve, which is good for banks. There was a tremendous run in US bank shares, and that is starting to show up in international markets. Bank stocks have been very, very cheap and unloved. Regulation, in particular, has been swinging harder and harder towards banks, and is now starting to swing back. Earnings are starting to improve. This company has very big exposure to Latin America, but ultimately that should be a good thing. A very well-run bank, but trades at valuations that are close to where it was during the sovereign debt and the financial crisis.


Price:
$5.150
Subject:
GLOBAL
Bias:
OPTIMISTIC
Owned:
Unknown
2016-12-15 HOLD David Driscoll

Since they have a ton of branches in both Spain and Britain, they have BREXIT going for them. He likes what they are trying to do on the retail side, but they are highly leveraged, about 50% higher than Canadian banks. There isn’t any real catalyst that is going to get the stock price to move, unless they really start to see net interest margins start to run. They are running around 3% right now, which is not too bad, but compared to the US banks it isn’t there yet.Since they have a ton of branches in both Spain and Britain, they have BREXIT going for them. He likes what they are trying to do on the retail side, but they are highly leveraged, about 50% higher than Canadian banks. There isn’t any real catalyst that is going to get the stock price to move, unless they really start to see net interest margins start to run. They are running around 3% right now, which is not too bad, but compared to the US banks it isn’t there yet.


Price:
$5.140
Subject:
GLOBAL
Bias:
UNKNOWN
Owned:
Unknown
2016-11-23 COMMENT David Fingold

The euro is going to affect how this security trades. This has significant exposure to emerging markets, and he has a negative view about them. Also, he is not comfortable that they have properly provisioned their loan book. In Spain, there is increasing competition to originate loans, and loan spreads are being competed away.


Price:
$4.530
Subject:
NORTH AMERICAN/GLOBAL
Bias:
BULLISH
Owned:
No
2016-11-14 COMMENT David Driscoll

This is doing a lot of juggling, because Brazil, Mexico, Britain and Spain are all scrambling. More of a retail bank, so you do get the benefit of the doubt in that they do have good branches. They are trying to move to the digital space, just like we are seeing in Canada. The problem they are having in Spain is new elections as well as real estate issues with bad debts. Brazil is a problem. Mexico could be a problem, from the standpoint that if Trump does not want to do business with Mexico, it will have a drag on their operations. Britain has had the drop in its pound, so their currency risk is going to pick up as well. They are highly leveraged at about 126%. The stock is probably going to stay down here for a while.


Price:
$4.600
Subject:
GLOBAL
Bias:
UNKNOWN
Owned:
Unknown
2016-11-11 HOLD Darren Sissons

A behemoth bank, domiciled originally in Spain, but has global operations. When the US lowered interest rates, ultimately the rest of the world followed. As the US exported capital, hot money moved to different markets. When the US starts to raise rates, capital will flood from other markets. Ultimately there is an expectation that we will see higher rates across the globe when the US raises rates. This bank has big operations in Europe and in south America. An interesting company. Good governance and didn’t blow up during the crisis. He thinks there is more upside here.


Price:
$4.590
Subject:
GLOBAL TECHNOLOGY
Bias:
OPTIMISTIC
Owned:
Unknown
2016-10-27 WEAK BUY Paul Harris, CFA

They have a growing franchise in the southern US as well as being in all of Latin and South America.  There is good growth compared to a retail franchise in Canada, for example.  The issue they face is that there is a cloud over the Euro banking system regarding capital ratios.  This is hurting them.  Their dividend is safe.  It is going to take a long time for people to feel comfortable with European banks.  It is not an expensive stock, at or below book value.  Until you see a better environment in Europe it will be in that cloud.  Low rates in Europe are hurting banks there.


Price:
$4.790
Subject:
NORTH AMERICAN - LARGE & GLOBAL EQUITIES
Bias:
OPTIMISTIC
Owned:
Unknown
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