Banco Sabadell Estimates Revised as BofA Notes Completion of TSB Disposal

11:59 AM EDT, 07/16/2026 (MT Newswires) -- BofA Global Research revised its forecasts for Banco de Sabadell (SAB.MC) ahead of the Spanish lender's second-quarter financial results publication on July 24. Sabadell is expected to post a reported net profit of 739 million euros for the quarter, up 52% year over year and 20% above the Visible Alpha consensus estimate. Total revenue is projected to rise 1% to 1.27 billion euros, against the market forecast of 1.26 billion euros, according to a Wednesday earnings preview note for Spanish banks. "Our estimates change for Sabadell mainly reflect the disposal of TSB, which was completed at the end of April. We now incorporate TSB in discontinued operations for 2026e. For 2Q26e we also reflect a c.EUR350m capital gain related to the disposal," the research firm wrote. "In 2027-28e, we lower [net interest income] but also reflect lowers costs and [loan loss provisions] on improved mix and lift our EPS estimates by c.1% in both years." Net attributable profit and total revenue projections for 2026 through 2028 were also downwardly adjusted. The stock's neutral rating and price objective of 3.60 euros remain unchanged.