Banco Santander Unveils 3-Yr Plan, Eyes Double-Digit EPS Growth by 2018

ADRs of Banco Santander (SAN) were down slightly pre-market Wednesday after the Spanish bank unveiled its strategic plan for 2016-2018.

The bank is looking to increase EPS over the next three years, targeting double-digit EPS growth by 2018.

Other targets set for 2018 include enhanced profitability, with a return on tangible equity of approximately 13%, a fully-loaded Core Tier 1 Equity (CET1) greater than 11%, and a cost-income ratio of less than 45%.

SAN was moving shy of the low end of the 52-week range of $5.38 to $9.79 in recent pre-market activity.

Companies: Banco Santander, S.A.
Price: 5.42 Price Change: -0.01 Percent Change: -0.18