Genworth Responds to UK Court's Approval of Banco Santander's Appeal Request
Written by Emily J. Thompson, Senior Investment Analyst
Court Decision: The UK Court of Appeal has granted Santander permission to appeal a High Court ruling that found it liable for approximately GBP 680 million in damages related to mis-sold payment protection insurance (PPI) policies.
Genworth's Position: Genworth, which acquired the claimants in 2015, stated it is entitled to a share of any funds recovered from third parties regarding PPI-related losses, although these potential recoveries are not included in its capital allocation plans.
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Analyst Views on SAN
Wall Street analysts forecast SAN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SAN is 7.40 USD with a low forecast of 4.90 USD and a high forecast of 9.91 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
1 Hold
1 Sell
Moderate Sell
Current: 12.810
Low
4.90
Averages
7.40
High
9.91
Current: 12.810
Low
4.90
Averages
7.40
High
9.91
About SAN
Banco Santander, S.A. is a Spain-based company engaged as a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company's commercial model satisfies the needs of all types of customers: individuals with various income levels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Middle-Income Households Show Record Confidence Amid Inflation
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Santander Appoints New Head of Auto Business
- New Leadership: Santander US has appointed David McClelland as the Head of Auto Business, responsible for executing the company's auto growth strategy and enhancing dealer and customer experiences, succeeding the retiring Bruce Jackson.
- Extensive Experience: McClelland brings over 20 years of auto finance industry experience, having served as Vice President of Strategy and Partnerships at Ford and CEO of Ford Credit, managing a $146 billion balance sheet.
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- Market Significance: The US remains a critical market for Santander, with operations including retail banking and a top-10 auto lender by market share, expected to leverage the Openbank digital retail banking platform to support low-cost auto lending.
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