Banco Santander-Chile (NYSE:BSAC) Stock Rating Lowered by Bank of America

Banco Santander-Chile (NYSE:BSAC) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $24.00 price target on the bank’s stock. Bank of America‘s price target suggests a potential upside of 1.01% from the company’s current price.

Banco Santander-Chile Price Performance

Banco Santander-Chile stock opened at $23.76 on Thursday. The business has a 50-day simple moving average of $22.91 and a 200 day simple moving average of $20.90. Banco Santander-Chile has a 52 week low of $18.14 and a 52 week high of $24.90. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.96 and a beta of 0.72. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.70.

Banco Santander-Chile (NYSE:BSAC) last announced its earnings results on Wednesday, April 30th. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. The business had revenue of $767.62 million for the quarter, compared to the consensus estimate of $717.38 billion. Banco Santander-Chile had a net margin of 19.16% and a return on equity of 19.15%. On average, research analysts forecast that Banco Santander-Chile will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in shares of Banco Santander-Chile in the third quarter worth about $527,000. Franklin Resources Inc. raised its holdings in Banco Santander-Chile by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,164,490 shares of the bank’s stock valued at $63,859,000 after buying an additional 33,291 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Banco Santander-Chile by 2.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,927,417 shares of the bank’s stock worth $81,533,000 after acquiring an additional 75,888 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Banco Santander-Chile during the fourth quarter valued at about $364,000. Finally, Blue Trust Inc. grew its stake in shares of Banco Santander-Chile by 11.0% in the fourth quarter. Blue Trust Inc. now owns 18,415 shares of the bank’s stock worth $382,000 after purchasing an additional 1,831 shares during the last quarter. 6.42% of the stock is owned by hedge funds and other institutional investors.

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.