Banco Santander-Chile (NYSE:BSAC) Downgraded to Neutral Rating by Bank of America

Bank of America cut shares of Banco Santander-Chile (NYSE:BSAC) from a buy rating to a neutral rating in a report released on Monday morning, MarketBeat reports. The brokerage currently has $21.00 price target on the bank’s stock, down from their previous price target of $22.00.

Separately, The Goldman Sachs Group raised shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and raised their target price for the company from $18.00 to $21.00 in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.33.

Banco Santander-Chile Stock Performance

Shares of NYSE:BSAC opened at $19.36 on Monday. The firm has a market capitalization of $9.12 billion, a PE ratio of 11.00, a P/E/G ratio of 0.41 and a beta of 0.87. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.79 and a quick ratio of 1.79. Banco Santander-Chile has a 12 month low of $17.73 and a 12 month high of $21.43. The business has a 50-day moving average of $19.64 and a two-hundred day moving average of $19.74.

Hedge Funds Weigh In On Banco Santander-Chile

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mirabella Financial Services LLP acquired a new position in shares of Banco Santander-Chile in the third quarter worth about $700,000. AGF Management Ltd. raised its position in shares of Banco Santander-Chile by 6.5% in the 2nd quarter. AGF Management Ltd. now owns 402,781 shares of the bank’s stock valued at $7,584,000 after purchasing an additional 24,697 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Banco Santander-Chile by 900.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 165,285 shares of the bank’s stock valued at $3,107,000 after purchasing an additional 148,764 shares in the last quarter. RWC Asset Management LLP grew its holdings in Banco Santander-Chile by 60.5% during the 2nd quarter. RWC Asset Management LLP now owns 796,552 shares of the bank’s stock worth $14,999,000 after acquiring an additional 300,257 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new stake in Banco Santander-Chile in the third quarter valued at about $736,000. Hedge funds and other institutional investors own 6.42% of the company’s stock.

About Banco Santander-Chile

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.