Ballentine Partners LLC Cuts Holdings in Banco Santander Chile $BSAC

Ballentine Partners LLC decreased its holdings in Banco Santander Chile (NYSE:BSAC) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,754 shares of the bank’s stock after selling 3,140 shares during the period. Ballentine Partners LLC’s holdings in Banco Santander Chile were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cardinal Capital Management lifted its stake in Banco Santander Chile by 0.9% during the 2nd quarter. Cardinal Capital Management now owns 99,974 shares of the bank’s stock valued at $2,521,000 after acquiring an additional 875 shares during the period. Strs Ohio bought a new position in Banco Santander Chile during the first quarter valued at approximately $2,990,000. Acadian Asset Management LLC bought a new position in Banco Santander Chile during the first quarter valued at approximately $240,000. Jane Street Group LLC boosted its holdings in Banco Santander Chile by 140.0% in the first quarter. Jane Street Group LLC now owns 47,222 shares of the bank’s stock worth $1,077,000 after purchasing an additional 27,549 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its position in Banco Santander Chile by 31.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 43,388 shares of the bank’s stock worth $989,000 after purchasing an additional 10,420 shares during the period. 6.42% of the stock is owned by institutional investors.

Banco Santander Chile Price Performance

Shares of Banco Santander Chile stock opened at $26.33 on Monday. The stock has a market cap of $12.41 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.99 and a beta of 0.75. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.76 and a current ratio of 1.76. The stock’s fifty day moving average is $24.50 and its 200 day moving average is $24.16. Banco Santander Chile has a one year low of $18.19 and a one year high of $26.83.

Banco Santander Chile (NYSE:BSAC) last issued its quarterly earnings results on Thursday, July 31st. The bank reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The company had revenue of $757.38 million during the quarter, compared to analysts’ expectations of $758.17 million. Banco Santander Chile had a return on equity of 22.21% and a net margin of 24.32%. Sell-side analysts anticipate that Banco Santander Chile will post 2.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group raised their price target on Banco Santander Chile from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, June 2nd. Wall Street Zen downgraded Banco Santander Chile from a “hold” rating to a “sell” rating in a report on Friday, September 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $24.00.

Banco Santander Chile 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.