Sumitomo Mitsui Trust Holdings Inc. Reduces Position in Banco Santander-Chile (NYSE:BSAC)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in Banco Santander-Chile (NYSE:BSAC) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,669 shares of the bank’s stock after selling 2,000 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Banco Santander-Chile were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. abrdn plc boosted its stake in shares of Banco Santander-Chile by 0.4% during the fourth quarter. abrdn plc now owns 730,572 shares of the bank’s stock worth $14,239,000 after buying an additional 2,987 shares during the period. AGF Management Ltd. purchased a new stake in Banco Santander-Chile during the 4th quarter valued at approximately $7,991,000. Sei Investments Co. raised its stake in Banco Santander-Chile by 8.4% during the 1st quarter. Sei Investments Co. now owns 327,191 shares of the bank’s stock valued at $6,488,000 after acquiring an additional 25,237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Banco Santander-Chile by 7.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 268,013 shares of the bank’s stock worth $5,315,000 after acquiring an additional 18,789 shares during the period. Finally, DNB Asset Management AS increased its holdings in shares of Banco Santander-Chile by 35.8% in the second quarter. DNB Asset Management AS now owns 166,763 shares of the bank’s stock valued at $3,140,000 after purchasing an additional 43,949 shares during the period. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BSAC. StockNews.com upgraded shares of Banco Santander-Chile from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Itau BBA Securities upgraded shares of Banco Santander-Chile from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, June 12th. Berenberg Bank upgraded shares of Banco Santander-Chile to a “hold” rating in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group raised shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $18.00 to $21.00 in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.48.

Banco Santander-Chile Stock Down 1.1 %

Banco Santander-Chile stock opened at $20.41 on Friday. Banco Santander-Chile has a fifty-two week low of $16.89 and a fifty-two week high of $21.19. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.86. The stock’s fifty day moving average is $19.62 and its two-hundred day moving average is $19.35. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.86 and a current ratio of 1.83.

Banco Santander-Chile (NYSE:BSAC) last released its quarterly earnings data on Wednesday, July 31st. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.01). Banco Santander-Chile had a return on equity of 11.87% and a net margin of 11.84%. The business had revenue of $599.94 million during the quarter, compared to analysts’ expectations of $693.44 million. Analysts predict that Banco Santander-Chile will post 1.82 EPS for the current fiscal year.

Banco Santander-Chile Company Profile

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking services in Chile. It operates through Retail Banking, Middle-Market, Corporate Investment Banking, and Corporate Activities segments. The company offers debit and credit cards, checking accounts, and savings products; consumer, automobile, commercial, mortgage, and government-guaranteed loans; and Chilean peso and foreign currency-denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines, as well as mortgage financing services.