Santander repurchases 17.5 million shares. RBC keeps EUR 13.25 target for Banco Santander stock

Banco Santander (ISIN ES0113900J37) repurchased 17.5 million shares between September 24 and September 30, 2026, under its buyback program, according to TradingView on October 1, 2026. Investing.com lists RBC Capital as maintaining a Buy rating and a EUR 13.25 target on October 1, 2026.

Buyback reaches EUR 915.9 million

The latest purchases lifted cumulative cash spending under the program to EUR 915.9 million by September 30, 2026, equal to 50.2 percent of the maximum investment amount, according to TradingView. The transaction table shows that Santander bought 3.7 million shares on September 30 at an average price of EUR 12.4119 on the Madrid venue.

For investors, the scale matters more than the single-week volume. The bank has linked the buyback to its broader shareholder-remuneration policy, while the latest filing confirms that the ordinary shares carry ISIN ES0113900J37.

Dividend and profit both move higher

On September 29, 2026, Banco Santander announced an interim cash dividend of EUR 0.13 per share against 2026 results, up 10.00 percent from the prior interim payment, according to Santander. The payment is scheduled for November 2, 2026, giving the capital-return story a second dated element.

In the first half of 2026, underlying profit increased 15.00 percent to EUR 7.3 billion and revenue increased 6.00 percent to EUR 30.8 billion, the same Santander release reported. The efficiency ratio improved by 2.9 percentage points to 42.8 percent, while the customer base reached 182 million after increasing by 12 million over the previous twelve months.

Results date sets the next checkpoint

Santander's investor calendar schedules its 9M 2026 earnings presentation for October 28, 2026, alongside the end of the blackout period, as shown on the company's investor-relations page. The date follows the dividend's October 29 ex-dividend date and will give the market a fresh test of the bank's profit and capital-return trajectory.

Banco Santander stock stays below target

RBC Capital's EUR 13.25 target is EUR 1.56 above the EUR 11.69 Lang & Schwarz price, a 13.34 percent gap based on the October 1, 2026 target and the October 2, 2026 quote. The comparison places the analyst view above the current German-market indication, while Santander's latest operating figures provide the fundamental counterpoint.

Banco Santander was trading at EUR 11.69 at Lang & Schwarz on October 2, 2026 at 12:16 p.m. CEST, down 0.76 percent versus the EUR 11.78 prior close from October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Banco Santander stock.

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