Ranking InvestorPlace’s 10 Best Stocks for 2012 Through Q2

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Ranking InvestorPlace’s 10 Best Stocks for 2012 Through Q2

No. 9: Banco Santander

Banco Ranking InvestorPlaces 10 Best Stocks for 2012 Through Q2Q2 Return: -14%
YTD Return:
-13%
Investor:
Jim Jubak

Banking on Spain didn’t turn out to be such a good idea, either.

Sure, Banco Santander (NYSE:STD) was said to have plenty of attractive assets outside of the struggling Spanish and eurozone markets and was able to unload some of its bad assets.

And sure, it didn’t need a bailout … but a lot of banks in Spain did. In general, the fear that a country’s financial system is on the verge of collapse tends to make investors feel a little uneasy. Jim Jubak himself added a disclaimer about sovereign debt in his original bullish call for the stock. And the company’s first-quarter earnings also took a 24% dive to about 1.6 billion euros.

All those headwinds helped to erase the company’s double-digit gains in the first few months of 2012.

Recently, Banco Santander was one of numerous Spanish banks to have its credit downgraded by Moody’s, as STD was lowered two notches. On the bright side, its negative outlook still got higher ratings than many other Spanish financial institutions … which is less bad, if nothing else.


Article printed from InvestorPlace Media, http://investorplace.com/2012/07/ranking-investorplaces-10-best-stocks-for-2012-through-q2/.

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