Link Securities | BlackRock has downgraded its stake in Banco Sabadell from the 4.460% it held since 14 February to 3.964%, according to the notification sent on Monday to the Comisión Nacional del Mercado de Valores (CNMV), reported Europa Press.
Taking into account the current share price of the Catalan bank, BlackRock’s stake is valued at around €215 million. With this reduction, the fund’s stake in the bank is the lowest since June 2021, when it controlled around 3.4% of the share capital. Since then, and until now, it has held between 5% and 4%.
However, BlackRock remains Sabadell’s largest significant shareholder, ahead of David Martinez (3.495%), Lewis A. Sanders (3.473%), Fintech Europe (3.105%) and Dimensional Fund Advisors (3.011%). It should be noted that SAB is currently executing a share buyback programme with a maximum amount of €204 million.