Santander buyback reaches EUR 1.25 billion: JPMorgan targets Banco Santander stock at EUR 12.90

Published on 10/20/2026 at 10:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan lifted its target to EUR 12.90 on October 14, 2026. Banco Santander stock costs EUR 11.76 on October 20, 2026 versus the target.

Capital return and earnings dates

Santander's buyback reached EUR 1.25 billion on October 14, 2026.
Underlying profit stood at EUR 7.3 billion in the first half of 2026.
Banco Santander stock traded at EUR 11.76 at 10:35 a.m. CEST at Lang & Schwarz on October 20, 2026.
The next results presentation is scheduled for October 28, 2026.

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Banco Santander's buyback reached EUR 1.25 billion by October 14, 2026, while JPMorgan raised its target to EUR 12.90 from EUR 12.60. The latest figures put capital returns and the October results date at the center of the stock's near-term setup.

According to CNMV, Santander purchased 6,100,000 of its own shares between October 8 and October 14, 2026. The cash amount invested reached EUR 1,248,734,451, equal to 68.4 percent of the programme's maximum investment amount.

Buyback reaches a key milestone

The programme had repurchased approximately 18.5 percent of the bank's outstanding shares as of 2021, according to the same October 15, 2026 filing. The reported transactions included 2,400,000 shares purchased on October 8 and 986,716 shares bought on October 14, with weighted average prices of EUR 11.99 and EUR 12.08.

What does the target signal?

t-online reported on October 15, 2026 that JPMorgan lifted its Banco Santander target from EUR 12.60 to EUR 12.90 while keeping a Neutral rating. The bank also increased its earnings forecasts for 2026 to 2028 by an average of 1 percent. That combination points to a modest valuation adjustment rather than a change in the bank's stance.

Three dates frame the next step

On October 8, 2026, Santander bought 2,400,000 shares for the buyback, according to the CNMV. On October 14, 2026, purchases for the reporting period totaled 6,100,000 shares. On October 15, 2026, the filing put cumulative cash investment at EUR 1,248,734,451.

Results and dividend dates

Banco Santander's investor-relations page lists October 28, 2026 as the date for its 9M 2026 financial-results presentation and the last day to trade shares with a right to receive the interim cash dividend. It lists November 2, 2026 as the payment date. The same page reports underlying profit of EUR 7.3 billion and underlying RoTE of 15.6 percent for the first half of 2026, with both figures marked as year-over-year measures.

Stock price and investor context

The buyback gives investors a dated measure of capital deployment, while the October 28 results presentation offers the next test of operating performance. The first-half figures provide a reference point for that update, particularly the 15.6 percent underlying RoTE and 14.0 percent CET1 ratio as of June 2026.

Banco Santander stock was trading at EUR 11.76 at Lang & Schwarz on October 20, 2026 at 10:35 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Banco Santander stock.