Morgan Stanley analyst Alvaro Serrano has reiterated their bullish stance on BNC stock, giving a Buy rating today.
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Alvaro Serrano’s rating is based on a combination of strong financial performance and promising future guidance for Banco Santander. The bank’s net profit for the fourth quarter of 2024 surpassed expectations by 11-13%, with underlying results showing a 3% improvement. This was partly due to favorable currency adjustments in Argentina and strong performances in key regions like Spain, the US, and Brazil.
Furthermore, Banco Santander has set a positive outlook for 2025, with a return on tangible equity (ROTE) expected to reach 17%, indicating a potential earnings upgrade of 10% or more. The bank also plans significant share buybacks totaling €10 billion over 2025 and 2026, which is anticipated to enhance shareholder value. These factors, combined with better-than-expected capital metrics, suggest a promising investment opportunity, supporting Serrano’s Buy rating for the stock.
In another report released today, Citi also reiterated a Buy rating on the stock with a €6.60 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BNC in relation to earlier this year.