JPMorgan sets EUR 12.60 target for Banco Santander stock

Published on 10/14/2026 at 16:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Profit rose 15.00 percent in the first half of 2026. Banco Santander stock costs EUR 12.07 on October 14, 2026, 0.90 percent below October 13 Xetra close.

Target, profit and reporting date

JPMorgan resumed Banco Santander coverage with a EUR 12.60 target on October 5, 2026.
Underlying profit increased 15.00 percent in the first half of 2026.
Banco Santander stock costs EUR 12.07 at Lang & Schwarz on October 14, 2026 at 4:08 p.m. CEST, 0.90 percent below the Xetra close of October 13, 2026.
Santander will present nine-month 2026 results on October 28, 2026.

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JPMorgan resumed coverage of Banco Santander with a Neutral recommendation and a EUR 12.60 target on October 5, 2026, according to Yahoo Finance. At EUR 12.07, the target lies 4.39 percent above the Lang & Schwarz price. The stock was trading at EUR 12.07 at Lang & Schwarz on October 14, 2026 at 4:08 p.m. CEST, 0.90 percent below the Xetra close of October 13, 2026 at EUR 12.18.

Profit reaches EUR 7.33 billion

Banco Santander generated underlying profit of EUR 7.33 billion in the first half of 2026, an increase of 15.00 percent from the comparable period. Revenue rose 6.00 percent to EUR 30.85 billion, while the efficiency ratio improved by 2.90 percentage points to 42.80 percent, according to the bank's September 29, 2026 release.

The figures give the target a measurable earnings backdrop, but JPMorgan's Neutral stance also points to a more balanced risk and return profile after the bank's valuation recovery. The target comparison uses the same euro currency as the BME quotation and the Lang & Schwarz price.

Stock remains below its yearly high

Banco Santander's BME quotation stood at EUR 12.06 at 4:04 p.m. CEST on October 14, 2026, with a market capitalization of EUR 177.0 billion, a price-to-earnings ratio of 11.08 and volume of 5,661,974 shares. The 52-week BME range was EUR 6.72 to EUR 13.12, placing the Lang & Schwarz price 8.00 percent below the high; the range and market figures are dated October 14, 2026.

Comparison with peers

Banco Santander: minus 0.90 percent, P/E 11.08, market capitalization EUR 177.0 billion.

Banco Bilbao Vizcaya Argentaria (BME, EUR): minus 0.73 percent, P/E 11.99, market capitalization EUR 127.4 billion.

BNP Paribas (Euronext Paris, EUR): minus 0.91 percent, P/E 7.74, market capitalization EUR 98.0 billion.

Results date approaches

Santander's investor calendar lists the nine-month 2026 financial results presentation for October 28, 2026, while the last day to trade shares with a right to receive the interim cash dividend is also October 28, 2026, according to the company's investor calendar. The interim cash dividend of EUR 0.127 per share is payable on November 2, 2026, after the board approved a 10.00 percent increase from the prior interim payment in the September 29 release.

Price and target remain separated

The current euro quotation is EUR 12.07 at Lang & Schwarz on October 14, 2026 at 4:08 p.m. CEST, 0.90 percent below the Xetra close of October 13, 2026 at EUR 12.18. JPMorgan's EUR 12.60 target is 4.39 percent above that price, while the 52-week high stands at EUR 13.12. The further course of trading is shown by the continuously updated real-time quote of Banco Santander stock.