Banco Santander
Banco Santander, S.A.
Banco Santander is a Spanish multinational bank; its Santander Corporate & Investment Banking division publishes equity research focused on European and Latin American companies and, through its US broker-dealer, offers US research via alliances with independent firms.
Company history
Banco Santander was chartered by royal decree in 1857 to finance trade between the port of Santander and Latin America. It bought Banesto in 1994, merged with Banco Central Hispano in 1999 and resumed the Banco Santander name in 2007, expanding through acquisitions across Latin America, the UK (Abbey National, 2004) and the US. In 2026 it completed the purchases of the UK's TSB and US lender Webster Financial.
- 1857Chartered by royal decree in Santander, Spain
- 1994Acquired Banesto
- 1999Merged with Banco Central Hispano to form BSCH
- 2004Acquired UK lender Abbey National
- 2007Legally renamed Banco Santander, S.A.
- 2026Completed acquisitions of TSB and Webster Financial
Research
Santander CIB's equity research has more than 70 analysts in eight countries covering over 400 companies as of 2026, supported by locally based economists and strategists; the team shared sixth place in Extel's 2025 Latin America research ranking. Its US broker-dealer has research alliances with Telsey Advisory Group, Vertical Research Partners, Nephron Research and MoffettNathanson, the latter two signed in 2025. Ratings are Outperform, Neutral and Underperform versus a total-return benchmark.
Coverage12M
- Stocks
- 34
- Ratings
- 28
- Price targets
- 24
- Median upside
- +18.1%
- Upgrades
- 7
- Downgrades
- 9
- Initiations
- 3
- Reiterations
- 9
- Targets raised
- 6
- Targets cut
- 3
- Positive39%7
- Neutral61%11
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 SANBanco Santander, S.A. | Buy | — |
 AMXAmérica Móvil, S.A.B. de C.V. | Outperform | $27 |
 BSBRBanco Santander (Brasil) S.A. | Hold | $6 |
 AGROAdecoagro S.A. | Neutral | $14.80 |
 AUGOAura Minerals | Neutral | $114.70 |
 BMABanco Macro S.A. | Buy | $91 |
 BZKanzhun Limited | Hold | — |
 FMXFomento Económico Mexicano, S.A.B. de C.V. | Neutral | $130 |
 GPRKGeoPark Limited | — | $9 |
 NUNu Holdings Ltd. | — | $22 |
Analysts24M
- Guilherme PalharesJBS · PPC2
- Rodrigo ReisUGP1
- Pedro LeducBBAR1
- Andres SotoCIB1
- Vincente NetoGPRK1
- Mariano SzachtmanCOTY1
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| REREPYY | Downgrade | Outperform →Neutral | Sep 22 | |
 Equinor ASAEQNR | Downgrade | Outperform →Neutral | Sep 22 | |
| Banco Santander, S.A.SAN | Reiterate | Buy | Sep 18 | |
| VCVCISF | Upgrade | Neutral | Sep 16 | |
| GNGenworth Financial, Inc.GNW | Reiterate | Outperform | Sep 15 | |
| Banco Santander (Brasil) S.A.BSBR | Downgrade | Neutral →Hold | Sep 15 | |
| Kanzhun LimitedBZ | Downgrade | Neutral →Hold | Sep 15 | |
| Adecoagro S.A.AGRO | Initiate | Neutral | $13 →$14.80 | Sep 14 |
| TMTeamshares Inc.TMS | Initiate | Outperform | $10.90 | Sep 11 |
| ORORANY | Upgrade | Outperform | Sep 10 |
Similar coverage12M
References
- Our history - Santandersantander.com
- Banco Santander - Wikipediaen.wikipedia.org
- Cash Equity - Santander Corporate & Investment Bankingsantandercib.com
- Santander announces U.S. equity research alliance with MoffettNathanson LLCsantander.com
- Extel Reveals Top Latin America Research Teams (2025)einpresswire.com
- Santander Completes Acquisition of Webster Banksantanderbank.com