Santander: shares consolidate following investor day
(CercleFinance.com) - The Santander share is down slightly on Thursday, with the stock consolidating after yesterday's gains, when investors cheered the announcements made at the group's investor day.
The stock is down 1% today, after rising 2% on Wednesday after the Spanish bank detailed plans on how it will deliver on its strategy over the medium term.
At its investor day in London, Banco Santander confirmed its key financial targets, including achieving an underlying return on tangible equity (RoTE) of 13%-15% and a fully loaded CET1 ratio of 11%-12%.
The group also plans to improve its efficiency ratio to below 45% and increase its dividend payout ratio to 40%-50%.
As part of the new plan, it will invest over 20 billion euros in digital and technology over the next four years.
In a research note this morning, Oddo BHF analysts mention a medium-term strategy that is "unsurprising," although which as a whole makes sense.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The stock is down 1% today, after rising 2% on Wednesday after the Spanish bank detailed plans on how it will deliver on its strategy over the medium term.
At its investor day in London, Banco Santander confirmed its key financial targets, including achieving an underlying return on tangible equity (RoTE) of 13%-15% and a fully loaded CET1 ratio of 11%-12%.
The group also plans to improve its efficiency ratio to below 45% and increase its dividend payout ratio to 40%-50%.
As part of the new plan, it will invest over 20 billion euros in digital and technology over the next four years.
In a research note this morning, Oddo BHF analysts mention a medium-term strategy that is "unsurprising," although which as a whole makes sense.
Copyright (c) 2019 CercleFinance.com. All rights reserved.