Banco Santander, S.A.
At today's price, Banco Santander, S.A. (SAN) is priced for 14.8% return on equity. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
- Priced-in read: at about 1.7x book, the stock is pricing a level of profitability beyond the roughly 12.4% ceiling only the strongest banks hold, a demand that rates extreme and does not resolve into a single number. - Returns and capital: a trailing return on equity near 12.5%, an efficiency ratio in the low 40s [Source: Santander Q1 2026 results, 42.8%], common equity tier one around 14.4% [Source: Santander Q1 2026], and a share count shrinking about 3.6% a year. - The risk: Santander's lar
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627 institutional managers reported holding SAN in 13F filings for the quarter ended 2026-03-31. Together they hold about 3% of the company; the top 10 hold 2%. 107 opened new positions that quarter. Held by Morgan Stanley, Goldman Sachs, Fisher Investments, among others. On the short side, 91.4M shares were sold short as of the 2026-06-15 count, about 0.6% of shares outstanding (10.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SAN has cut its share count 13.8% over the past five years. It pays a dividend, and has paid one every year in our records (11 and counting), raised 3 years straight. Cash returned over the past three years: $10.35B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Last analyzed: July 19, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.