Banco Santander stock gains on analyst support and buybacks

Published on 09/21/2026 at 12:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banco Santander stock closed at EUR 12.52 on September 20, 2026, after a 3.30 percent drop. Banco Sabadell sees EUR 14.92 fair value and 16 percent upside.

Flatlay of passport, globe, bank card, euro cash and glasses on wooden desk — Santander ES0113900019 global banking flatlay passport globe card euro cash on wooden desk, Illustration mit AI erstellt.

Banco Santander stock (ISIN ES0113900019) closed at EUR 12.52 on September 20, 2026, after a 3.30 percent decline. Banco Sabadell sees 16 percent upside to EUR 14.92 per share as of September 20, 2026, and recent buybacks added a second support point.

Analysts still see upside

According to AD HOC NEWS, Banco Sabadell said on September 20, 2026 that Banco Santander stock trades at a 12 percent discount to comparable European banks. The same analysis put the price target at EUR 14.92, which implies 16 percent upside from the EUR 12.52 close on September 20, 2026.

The bank's revenues rose 9 percent in the second quarter of 2026 compared with the same quarter a year earlier, and the stock still trades below book value in that commentary. That combination matters more than the daily move alone.

Buybacks add support

According to TradingView, Banco Santander bought back EUR 558.9 million of shares from September 10 to September 16, 2026, equal to about 30.6 percent of its buyback cap. The same recap said the program had repurchased about 18.2 percent of outstanding shares as of 2021.

TradingView also noted that the Court of Appeal overturned a GBP 677 million AXA payout, which removes one legal overhang from the stock. For investors, the legal backdrop now sits next to a clear capital return story.

Price and valuation

Banco Santander stock opened at USD 14.34 and moved within a 52-week range of USD 9.62 to USD 15.05, with a market cap of USD 210.57 billion and volume of 1.67 million shares as of September 20, 2026. The current level leaves the shares below the 52-week high and close to the upper end of that range.