SAN has lots of positives going on and this all should push share price to book value and beyond in next 12mos..
Sentiment: Strong Buy
A buyback is feasible, but it won't be any time soon because SAN still needs to hold on to cash reserves. The buyback will likely come when they stop issuing script as a cash dividend alternative.
Do you know if Spanish/European banking laws require SAN to inform the public if/when they intend to buy back their stock?
Right on! I have a sneaking suspicion that they have been buying back huge chunks in the private markets.