Banco Santander SA

SAN-N

NYSE:SAN

2.08
0.06 (2.97%)
The Santander Group is a Spanish banking group centered on Banco Santander, S.A. As its name suggests, the company originated in Santander, Cantabria, Spain.
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Analysis and Opinions about SAN-N

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
April 2, 2014

(Market Call Minute.) He would be cautious of companies that have exposure to Latin America. It would benefit if there was additional easing in Europe. There may be better names.

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(Market Call Minute.) He would be cautious of companies that have exposure to Latin America. It would benefit if there was additional easing in Europe. There may be better names.

COMMENT
COMMENT
January 30, 2014

Met management about 6 months ago and came away with the impression that there are a ton of potential write-offs on their loan book, but they weren’t taking them. If compared to what the US did, they took the pain followed with the medicine on top which resulted in a big recovery in the US. Spanish have not done that and really have not received any government funding of any significance. If they don’t deal with the bad loans on the books, longer-term this will ultimately cause the Spanish banks to turn into Japanese zombie banks. 7% dividend yield. The UK would be a better place to look for banking recovery stories.

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Banco Santander SA (SAN-N)
January 30, 2014

Met management about 6 months ago and came away with the impression that there are a ton of potential write-offs on their loan book, but they weren’t taking them. If compared to what the US did, they took the pain followed with the medicine on top which resulted in a big recovery in the US. Spanish have not done that and really have not received any government funding of any significance. If they don’t deal with the bad loans on the books, longer-term this will ultimately cause the Spanish banks to turn into Japanese zombie banks. 7% dividend yield. The UK would be a better place to look for banking recovery stories.

DON'T BUY
DON'T BUY
January 9, 2014

Would prefer a local bank in Spain for a Spanish bank. There are less than 10 Spanish banks left standing. Now you have a consolidated industry, plus in an economy that was on its knees until about 6 months ago. Prefers others for global banking exposure.

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Would prefer a local bank in Spain for a Spanish bank. There are less than 10 Spanish banks left standing. Now you have a consolidated industry, plus in an economy that was on its knees until about 6 months ago. Prefers others for global banking exposure.

TOP PICK
TOP PICK
November 22, 2013

Spanish bank with a lot of Latin America exposure as well. Great yield. Has never taken any government money and hasn’t cut the dividend. Has a big operation in Brazil. Has flexibility because it does have international operations. Very big in the UK and in northern Europe as well. Thinks it can reach the Basil requirements with no problems.

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Banco Santander SA (SAN-N)
November 22, 2013

Spanish bank with a lot of Latin America exposure as well. Great yield. Has never taken any government money and hasn’t cut the dividend. Has a big operation in Brazil. Has flexibility because it does have international operations. Very big in the UK and in northern Europe as well. Thinks it can reach the Basil requirements with no problems.

DON'T BUY
DON'T BUY
November 12, 2013

(Market Call Minute) More equity raises ahead of them and prefers others.

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Banco Santander SA (SAN-N)
November 12, 2013

(Market Call Minute) More equity raises ahead of them and prefers others.

DON'T BUY
DON'T BUY
October 24, 2013

The challenge you have with the Spanish banking sector is that they are not selling down their troubled assets. The real estate is staying on the books. This is a direct analogy to the Japanese banks when they went into their 20 year hole. If you don’t clean up the balance sheet, you can’t lend and consumers can’t be reset to a new level. Very, very tough situation.

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Banco Santander SA (SAN-N)
October 24, 2013

The challenge you have with the Spanish banking sector is that they are not selling down their troubled assets. The real estate is staying on the books. This is a direct analogy to the Japanese banks when they went into their 20 year hole. If you don’t clean up the balance sheet, you can’t lend and consumers can’t be reset to a new level. Very, very tough situation.

PARTIAL SELL
PARTIAL SELL
October 22, 2013

Hold a core position in these European banks. Trim on the rise and then hold the rest. Did not take European TARP money. You just need a slight turn in the Spanish market and this one will benefit.

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Banco Santander SA (SAN-N)
October 22, 2013

Hold a core position in these European banks. Trim on the rise and then hold the rest. Did not take European TARP money. You just need a slight turn in the Spanish market and this one will benefit.

DON'T BUY
DON'T BUY
October 18, 2013

Fantastic run. This is a dash to the trash, a Spanish bank. Has been a recovery but non-performing loans in Spain continue to go up and housing has bottomed but not going up.

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Banco Santander SA (SAN-N)
October 18, 2013

Fantastic run. This is a dash to the trash, a Spanish bank. Has been a recovery but non-performing loans in Spain continue to go up and housing has bottomed but not going up.

DON'T BUY
DON'T BUY
August 28, 2013

The Spanish economy has bottomed and is unlikely to get much worse. A Spanish headquartered bank but has businesses across Europe as well as in the US and a significant exposure to Latin America. The problem is its emerging-market exposure. Also, the dividend of about 11% is too high and it will have to be cut. Would rather focus on other banks in Europe. (See Top Picks.)

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The Spanish economy has bottomed and is unlikely to get much worse. A Spanish headquartered bank but has businesses across Europe as well as in the US and a significant exposure to Latin America. The problem is its emerging-market exposure. Also, the dividend of about 11% is too high and it will have to be cut. Would rather focus on other banks in Europe. (See Top Picks.)

DON'T BUY
DON'T BUY
April 2, 2013

Largest private sector bank in Spain. Have had their challenges in recent years, particularly in having to repossess huge buildings of euro’s worth of real estate and bring it onto their books. Dividend yield looks very attractive but that will get cut at some point as the payout ratio is not sustainable. There is still significant risk in the private banking business in Spain. Not particularly cheap.

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Largest private sector bank in Spain. Have had their challenges in recent years, particularly in having to repossess huge buildings of euro’s worth of real estate and bring it onto their books. Dividend yield looks very attractive but that will get cut at some point as the payout ratio is not sustainable. There is still significant risk in the private banking business in Spain. Not particularly cheap.

DON'T BUY
DON'T BUY
December 5, 2012

Has had a nice relief bounce off its lows, like many of the European banks. Spanish economy is still facing many, many challenges and he expects they will ask for a bailout. This is a short-term trading stock as opposed to a stock for investment.

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Banco Santander SA (SAN-N)
December 5, 2012

Has had a nice relief bounce off its lows, like many of the European banks. Spanish economy is still facing many, many challenges and he expects they will ask for a bailout. This is a short-term trading stock as opposed to a stock for investment.

DON'T BUY
DON'T BUY
November 22, 2012

(Market Call Minute) Stay away from Spanish banks.

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Banco Santander SA (SAN-N)
November 22, 2012

(Market Call Minute) Stay away from Spanish banks.

SELL
SELL
September 12, 2012

Very large Spanish bank. Spain has been in great distress in the last little while and has been promised money from the EU to support their banks. Spain has gone through a massive real estate bubble where lending standards fell apart and a lot of these people are under water so that is going to take a long process. Better places to be that are further along the curve on restructuring the banks. If you own, he would sell because you certainly have a chance to buy it back.

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Banco Santander SA (SAN-N)
September 12, 2012

Very large Spanish bank. Spain has been in great distress in the last little while and has been promised money from the EU to support their banks. Spain has gone through a massive real estate bubble where lending standards fell apart and a lot of these people are under water so that is going to take a long process. Better places to be that are further along the curve on restructuring the banks. If you own, he would sell because you certainly have a chance to buy it back.

DON'T BUY
DON'T BUY
April 24, 2012
(Market Call Minute) Touch outlook. Too much dud real estate assets on balance sheet.
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(Market Call Minute) Touch outlook. Too much dud real estate assets on balance sheet.
DON'T BUY
DON'T BUY
December 14, 2011
The last place he would put money right now would be a bank stock in Europe, just because of the uncertainty with what is happening to financial stocks in Europe. This would be a gamble.
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Banco Santander SA (SAN-N)
December 14, 2011
The last place he would put money right now would be a bank stock in Europe, just because of the uncertainty with what is happening to financial stocks in Europe. This would be a gamble.
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