Banco Santander opens the week with consensus focus, shares steady on NYSE

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-29, 12:49.

Banco Santander (ES0113900J37) begins the week with investors looking at its NYSE listing and recent earnings track record as key reference points. The group’s American Depositary Shares trade on the NYSE under ticker SAN, giving the Spanish bank a direct anchor in US equity markets.

What recent earnings show

On April 29, 2026 Banco Santander reported its Q1 2026 earnings, posting earnings per share of $0.27 for the quarter, compared with a consensus estimate of $0.29 according to MarketBeat. The miss of $0.02 per share offers a concrete benchmark for current analyst models and valuation work. MarketBeat’s earnings summary for Banco Santander outlines the Q1 2026 figures and expectations.

That Q1 2026 print follows the bank’s established reporting calendar, with US investors focusing particularly on the NYSE line since the SAN ADR allows exposure to Banco Santander’s global banking operations in dollar terms. The Q1 2026 earnings data form part of a broader picture of the group’s profitability, capital position, and regional performance in Europe and Latin America.

Analyst estimates and valuation markers

Analyst consensus around Banco Santander builds on the Q1 2026 EPS of $0.27 versus the $0.29 expectation, with models adjusting for the modest shortfall and the bank’s operating trajectory. For valuation-focused investors, one descriptive marker is the so-called Graham Number, which Eulerpool cites at 12.32 euros for 2026 versus 11.06 euros for 2025. Eulerpool’s Graham Number data for Banco Santander provide this comparative metric.

The Graham Number is a formula-based value combining earnings and book value per share, used by some value investors as a rough indication of a conservative fair price. While it is not a formal target from a bank research desk, the rise from 11.06 euros in 2025 to 12.32 euros in 2026 suggests an improvement in the underlying inputs used in the calculation. Alongside consensus EPS and dividend expectations, this metric adds a further layer for investors evaluating Banco Santander’s stock.

How Banco Santander makes its money

Banco Santander operates as a global universal bank headquartered near Madrid, with a mix of retail banking, commercial banking, and corporate and investment banking activities. In retail and commercial banking it earns interest income from loans, mortgages and credit lines, and fee income from payment services, cards and account packages. The corporate and investment banking arm adds advisory, capital markets and treasury services, supplying another earnings stream.

Where the shares trade today

The Banco Santander American Depositary Shares (ES0113900J37) trade on the NYSE under ticker SAN, with a last close reported at $13.40 on June 26, 2026, according to MarketBeat. That closing price in US dollars reflects the New York listing and complements the Spanish primary listing in euros on the home market.

Disclaimer: This text is for informational purposes only and does not constitute investment advice, a buy or sell recommendation, or a solicitation to transact in any financial instrument. All data are based on sources cited in the text and may change over time.