Banco Santander (NYSE:SAN) Posts Earnings Results

Posted by Stanley Muller on Jul 23rd, 2026

Banco Santander (NYSE:SAN – Get Free Report) posted its quarterly earnings data on Wednesday. The bank reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02), Zacks reports. The company had revenue of $17.93 billion for the quarter, compared to analyst estimates of $17.90 billion. Banco Santander had a return on equity of 12.23% and a net margin of 26.92%.

Here are the key takeaways from Banco Santander’s conference call:

Santander reported a record Q2 profit of EUR 3.8 billion and its best-ever first half, with H1 underlying profit up 14% year over year and revenue up 6% in constant euros.
Efficiency improved materially as the One Transformation program gained traction, with the efficiency ratio down to 42.8% and underlying RoTE rising to 15.6% (close to 17% on a normalized capital basis).
The group said the TSB acquisition is progressing as planned and should add scale, deposits, and synergies, with management reaffirming about EUR 400 million of annual savings by 2028.
Credit quality was broadly stable outside of Argentina, but the first half was hurt by Argentina deterioration and motor finance provisions in Openbank Europe, which together weighed on provisions and earnings.
Capital generation remained strong, with the CET1 ratio at 14% and another EUR 1.8 billion buyback approved by the ECB, supporting management’s confidence in reaching its 2026 capital and payout objectives.

Banco Santander Stock Performance

Shares of SAN opened at $13.73 on Thursday. Banco Santander has a fifty-two week low of $8.29 and a fifty-two week high of $14.39. The company has a market capitalization of $201.71 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.76 and a beta of 0.72. The business’s 50-day moving average is $13.04 and its two-hundred day moving average is $12.35.

Institutional Trading of Banco Santander

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its holdings in Banco Santander by 12.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,474 shares of the bank’s stock valued at $111,000 after purchasing an additional 1,070 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Banco Santander by 8.3% during the third quarter. Alliancebernstein L.P. now owns 14,625 shares of the bank’s stock worth $153,000 after buying an additional 1,123 shares during the period. Binnacle Investments Inc grew its stake in shares of Banco Santander by 96.2% in the third quarter. Binnacle Investments Inc now owns 3,227 shares of the bank’s stock valued at $34,000 after buying an additional 1,582 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Banco Santander by 4.4% in the 2nd quarter. Invesco Ltd. now owns 42,573 shares of the bank’s stock valued at $353,000 after buying an additional 1,786 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its stake in Banco Santander by 4.3% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 46,374 shares of the bank’s stock worth $544,000 after acquiring an additional 1,893 shares in the last quarter. Institutional investors and hedge funds own 9.19% of the company’s stock.

Key Stories Impacting Banco Santander

Here are the key news stories impacting Banco Santander this week:

Positive Sentiment: Banco Santander reported Q2 results that beat EPS expectations, with customer growth and higher volumes helping revenue performance. Banco Santander Q2 EPS beats as customers, volumes increase
Positive Sentiment: The bank said first-half underlying profit hit a record level as digital transformation and AI initiatives improved efficiency and profitability. Santander Consolidates Global Tech Platforms to Drive Record Profits
Positive Sentiment: Management reaffirmed 2026 targets and said the business is benefiting from customer gains and lending momentum. Santander posts higher Q2 profit, reaffirms 2026 targets
Positive Sentiment: Santander remains confident that its Webster transaction will close this year, which could support its U.S. expansion strategy. Santander still confident Webster deal will close this year
Neutral Sentiment: The company’s conference call and release provided additional detail on the quarter, but the main takeaway remains a modest earnings beat offset by restructuring charges. Banco Santander, S.A. (SAN) Q2 2026 Earnings Call Transcript
Negative Sentiment: Net profit fell sharply from the prior quarter because of restructuring costs tied to recent deals, including TSB and Poland-related charges. Santander Posts Lower Net Profit on Effects of TSB, Poland Deals

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings raised Banco Santander from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 14th. Wall Street Zen cut Banco Santander from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Santander reiterated a “buy” rating on shares of Banco Santander in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Banco Santander has an average rating of “Moderate Buy”.

View Our Latest Stock Analysis on Banco Santander

About Banco Santander

(Get Free Report)

Banco Santander, SA (NYSE: SAN) is a Spanish multinational banking group headquartered in Santander, Spain. Founded in 1857, the bank has grown from a regional institution into one of Europe’s largest banking groups, operating a diversified financial services platform that serves retail, small and medium-sized enterprises, and large corporate clients. Santander is publicly listed in Spain and maintains American Depositary Receipts on the New York Stock Exchange under the ticker SAN.

The group’s core activities include retail and commercial banking—offering deposit accounts, payment services, mortgages, personal and auto loans, and small business financing—alongside corporate and investment banking services for larger institutional clients.