10 Ridiculously Cheap Stocks to Buy Right Now

5. Banco Santander, S.A. (NYSE:SAN)

Analyst Upside as of November 25, 2024: 35%

Forward P/E as of November 25, 2024: 5.99

Market Capitalization as of November 25, 2024: $69.6 Billion

Banco Santander, S.A. (NYSE:SAN), commonly referred to as Santander Group, is a financial service company based in Santander, Spain. The company has over 166 million customers in over 10 markets. Banco Santander offers financial services such as savings and mortgages, loans, insurance and alarms, and online banking to individuals, companies, institutions, and corporations.

In the third quarter of 2024, the company reported a profit of EUR 3.3 billion, up 12% year-over-year. For the nine months ended 2023, the company logged EUR 9.3 billion in profits, up by 14%. The company has been driving growth by enhancing its customer experience via digital onboarding and simplifying customer journeys.

Automation has been crucial to the company’s success. The company has now established a single model across all its markets for a standardized consumer experience and most of its products and services are available digitally. In the first quarter, the company decided to launch Openbank in the United States. Openbank is one of the largest 100% digital banks by deposits valued at almost EUR 18 billion. More recently, on November 19, Banco Santander, S.A. (NYSE:SAN) debuted Openbank in Mexico with a complete digital proposition and competitive rates.