Banco Santander stock: Jefferies cuts Banco Santander to Hold, target rises to EUR 13.00

Published on 10/23/2026 at 16:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Profit hit EUR 7.30 billion in first half 2026. Banco Santander stock costs EUR 11.41 on October 23, 2026, down 0.78 percent versus Xetra close.

Analyst target and reporting date

Jefferies cut Banco Santander to Hold and raised its target to EUR 13.00 on October 20, 2026.
Underlying profit reached EUR 7.30 billion in the first half of 2026, up 15.00 percent year over year.
Banco Santander stock costs EUR 11.41 at Lang & Schwarz on October 23, 2026 at 4:07 p.m. CEST, 0.78 percent below the Xetra close.

Schwarzweiß-Reportagefoto einer belebten Bankfiliale mit Geldautomaten und Kunden in der Warteschlange — Banco Santander (ISIN ES0113900J37): dokumentarische Schwarzweiß-Reportage einer belebten Bankfiliale mit Geldautomaten und Schaltern, Illustration mit AI erstellt.

Jefferies downgraded Banco Santander from Buy to Hold and raised its price target from EUR 12.00 to EUR 13.00 in a note dated October 20, 2026, according to Markets Insider. Banco Santander stock was trading at EUR 11.41 at Lang & Schwarz on October 23, 2026 at 4:07 p.m. CEST, down 0.78 percent versus the Xetra close of October 22, 2026 at EUR 11.50.

Jefferies changes its stance

The analyst decision combines a more cautious rating with a higher valuation reference. Jefferies said earnings momentum was already reflected in consensus estimates, while the target increased by EUR 1.00, or 8.33 percent, from EUR 12.00 to EUR 13.00.

Stock stays below its annual high

The current euro price is EUR 0.09 below the Xetra close of October 22, 2026. The latest company investor page lists the Madrid quotation and identifies Banco Santander as a diversified banking group serving retail, commercial and corporate clients.

What comes next for Santander?

The next scheduled corporate date is October 28, 2026, when Santander plans to present its nine-month 2026 financial results at 10:00 a.m. CET, according to the company's investor-relations page. The same page lists an interim cash-dividend trading date on October 28, 2026 and payment on November 2, 2026.

Profit sets the operating context

In the first half of 2026, underlying profit reached EUR 7.30 billion, up 15.00 percent from the prior-year period. Underlying return on tangible equity was 15.60 percent, while the common equity tier-one ratio stood at 14.00 percent in June 2026, according to Santander. Those figures give the upcoming nine-month presentation a clear comparison point without turning the analyst target into a forecast.

Stock position after the rating change

Banco Santander stock was trading at EUR 11.41 at Lang & Schwarz on October 23, 2026 at 4:07 p.m. CEST, 0.78 percent below the Xetra close of October 22, 2026 at EUR 11.50. The further course of trading is shown by the continuously updated real-time quote of Banco Santander stock.