Sabadell stock keeps Renta 4 support despite softer revenue outlook

Published on 11/05/2026 at 11:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sabadell stock retains Renta 4 support after third-quarter results. The bank keeps its profitability goals but trims key revenue expectations.

Analyst sees resilient profitability

Renta 4 retains an Overweight recommendation and a EUR 3.85 price target.
Sabadell keeps its 2026 profitability target while moderating expectations for net interest income and commissions.
Recurring RoTE reached 14.2% in the first nine months, compared with 13.6% in the first half.

Sabadell, ES0113860A34, Illustration mit AI erstellt.

Banco Sabadell remains supported by Renta 4 after its third-quarter results, although the analyst firm sees less room for revenue growth than previously expected. In an analysis available on Thursday, November 5, 2026, Bolsamania reported that Renta 4 retained its Overweight recommendation and a EUR 3.85 price target.

The analysis said Sabadell continues to target recurring return on tangible equity, or RoTE, of 14.5% for 2026. Recurring RoTE reached 14.2% in the first nine months, up from 13.6% in the first half, keeping the bank within reach of its annual objective.

Revenue guidance becomes more cautious

Renta 4's main reservation concerns revenue momentum. The analyst expects net commission growth of about 4% year over year in 2026, compared with the previous mid-single-digit expectation. Commission income had risen 2% through September, an improvement from the decline recorded in the first half.

The bank also moved from expecting net interest income growth above 1% to growth around 1%. The revised outlook still implies an improvement from the 0.6% decline accumulated during the first nine months. Renta 4 linked the potential recovery to a better customer margin and less pressure from wholesale funding costs.

Sabadell stock traded at 3.64 euros on Lang & Schwarz at 11:35 CET on Thursday, November 5, 2026. Investors can follow the real-time quote of Sabadell stock.

Beyond revenue, the analyst view leaves the bank's broader operating framework intact. Sabadell continues to target mid-single-digit growth in outstanding loans, a cost of risk near 40 basis points and recurring operating-expense growth below 3% for 2026. The company also targets recurring RoTE of 16% in 2027.

The investor debate therefore centers on execution: stronger profitability and cost control must offset slower growth in interest income and commissions. The next scheduled investor event is the UBS European Conference in London on November 10, 2026.

The broader Spanish market is tracked through IBEX 35 market coverage.

More news and analyses on Sabadell stock.