Banco Santander stock falls as Oddo BHF lifts price target after strong first-half earnings

Published on 09/09/2026 at 15:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banco Santander stock is under pressure on September 9, 2026 even as Oddo BHF raises its price target to EUR 14.40 after a strong first half. The shares remain up more than 26 percent in 2026, supported by double-digit profit growth in H1 2026.

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Banco Santander stock (ISIN ES0113900019) is trading lower on September 9, 2026 in Madrid, even as fresh analyst updates highlight strong first-half earnings and a modest upside to the current valuation.

Analyst Oddo BHF raises target on Santander

According to Estrategias de Inversion on September 9, 2026, Oddo BHF has lifted its price target for Banco Santander from EUR 14.00 to EUR 14.40 while keeping an outperform stance on the Spanish bank.

The same overview notes that Banco Santander shares are among the most penalized names in the Ibex 35 on September 9, 2026, with the stock down about 2.97 percent as the index itself falls around 1.90 percent to 19,616 points, underscoring that the stock is underperforming the broader Spanish market on the day.

First-half 2026 earnings show strong profit growth

In the first half of 2026, Spain’s six largest banks generated a combined net profit of EUR 20.164 billion, up 18 percent year on year, and Banco Santander delivered the strongest increase in that group with its profit rising by 31 percent versus the first half of 2025, helped by a net capital gain of EUR 1.895 billion from the sale of Santander Bank Polska in January 2026, according to Estrategias de Inversion.

The same analysis highlights that Banco Santander’s share price has climbed 26.5 percent in 2026 up to the date of that report and is up 57.3 percent from its 52-week low of EUR 8.10 reached on October 17, 2025, with analysts’ average price target at EUR 13.30 implying an upside potential of 4.33 percent from the level at which the bank was trading when the study was published.

MarketBeat and MarketWatch show New York performance

On the New York Stock Exchange, Banco Santander’s American depositary shares under the ticker SAN closed at USD 14.86 on September 8, 2026, down USD 0.07 or 0.47 percent on the day, according to data cited by Yahoo Finance.

A broader stock overview from MarketBeat on September 9, 2026 indicates that SAN shares were recently trading around USD 14.90, compared with approximately USD 11.75 at the beginning of 2026, meaning the stock has gained about 26.8 percent year to date in dollar terms.

Stock under pressure in Madrid despite upside potential

Trading commentary from Teleborsa on September 9, 2026 describes Banco Santander shares in Madrid as being down about 3.67 percent intraday, with the move characterized as a controlled decline after a period of strength and a short-term technical picture that still points to an upward trend.

The same technical view suggests a short-term bullish curve with a target identified around EUR 12.70 and a possible corrective dip toward EUR 12.34 that would not damage the prevailing positive trend, with expectations of an extension of the rising trend line toward approximately EUR 13.06, providing investors with concrete reference levels for near-term trading decisions.

Closing price and valuation context

Banco Santander stock last closed on its primary Bolsa de Madrid listing at a verified price in euros on September 8, 2026, reflecting a modest single-session decline versus the previous close and leaving the shares below the average analyst price target of EUR 13.30 highlighted by Estrategias de Inversion and still some distance away from the EUR 14.40 target now set by Oddo BHF.