Banco Santander Chile (NYSE:BSAC) Rating Increased to Hold at Wall Street Zen

Banco Santander Chile (NYSE:BSAC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

BSAC has been the subject of several other reports. UBS Group lifted their price objective on shares of Banco Santander Chile from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Banco Santander Chile from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Citigroup downgraded Banco Santander Chile from a “buy” rating to a “hold” rating in a report on Friday, November 7th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Banco Santander Chile currently has an average rating of “Reduce” and a consensus target price of $27.67.

Banco Santander Chile Stock Performance

Shares of BSAC stock opened at $29.74 on Friday. The stock has a market capitalization of $14.01 billion, a PE ratio of 12.82, a P/E/G ratio of 0.78 and a beta of 0.58. The firm has a 50 day moving average of $28.51 and a two-hundred day moving average of $25.91. Banco Santander Chile has a 52 week low of $18.19 and a 52 week high of $31.16. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.51.

Banco Santander Chile (NYSE:BSAC) last released its earnings results on Thursday, October 30th. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). Banco Santander Chile had a return on equity of 22.18% and a net margin of 24.74%.The firm had revenue of $581.56 million for the quarter, compared to analysts’ expectations of $732.50 million. On average, research analysts predict that Banco Santander Chile will post 2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cardinal Capital Management raised its position in Banco Santander Chile by 0.9% during the second quarter. Cardinal Capital Management now owns 99,974 shares of the bank’s stock worth $2,521,000 after acquiring an additional 875 shares during the last quarter. Simplex Trading LLC acquired a new stake in shares of Banco Santander Chile in the second quarter worth approximately $25,000. PNC Financial Services Group Inc. increased its holdings in shares of Banco Santander Chile by 9.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,470 shares of the bank’s stock worth $304,000 after buying an additional 1,037 shares during the last quarter. Brooklyn Investment Group grew its position in Banco Santander Chile by 54,450.0% during the first quarter. Brooklyn Investment Group now owns 1,091 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,089 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in Banco Santander Chile by 10.7% during the third quarter. TD Waterhouse Canada Inc. now owns 11,625 shares of the bank’s stock worth $307,000 after acquiring an additional 1,123 shares during the last quarter. Institutional investors and hedge funds 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.