Banco Santander Chile (NYSE:BSAC) Upgraded to “Outperform” at Itau BBA Securities

Itau BBA Securities upgraded shares of Banco Santander Chile (NYSE:BSAC) from a market perform rating to an outperform rating in a research report report published on Thursday, MarketBeat reports.

Several other research firms have also commented on BSAC. Wall Street Zen raised shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Morgan Stanley set a $38.00 price target on shares of Banco Santander Chile in a research report on Wednesday, March 11th. The Goldman Sachs Group cut Banco Santander Chile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Banco Santander Chile in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $30.25.

Banco Santander Chile Trading Up 3.6%

Shares of BSAC opened at $32.18 on Thursday. Banco Santander Chile has a 1 year low of $20.77 and a 1 year high of $37.72. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.94. The stock has a 50 day simple moving average of $34.27 and a two-hundred day simple moving average of $30.54.

Banco Santander Chile (NYSE:BSAC) last posted its quarterly earnings results on Monday, February 9th. The bank reported $0.62 EPS for the quarter. The firm had revenue of $740.07 million for the quarter. Banco Santander Chile had a net margin of 24.57% and a return on equity of 21.51%. On average, equities analysts anticipate that Banco Santander Chile will post 2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BSAC. Simplex Trading LLC purchased a new stake in Banco Santander Chile during the 2nd quarter valued at $25,000. Raymond James Financial Inc. bought a new stake in Banco Santander Chile in the 2nd quarter worth $33,000. EverSource Wealth Advisors LLC increased its position in shares of Banco Santander Chile by 577.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,329 shares during the period. Farther Finance Advisors LLC increased its position in shares of Banco Santander Chile by 199.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,007 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Banco Santander Chile by 739.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,309 shares during the last quarter. 6.42% of the stock is owned by hedge funds and other institutional investors.

About Banco Santander Chile

Banco Santander Chile (NYSE:BSAC) is one of the leading financial institutions in Chile and a key component of the global Santander Group. The bank offers a comprehensive range of banking and financial services, including retail and commercial lending, deposit accounts, credit cards, wealth management, insurance products and corporate banking solutions. Headquartered in Santiago, it operates an extensive network of branches, ATMs and digital platforms to serve individual customers, small and medium-sized enterprises and large corporations across the country.

Originally founded as Banco de Santiago in the late 1970s, the institution became part of the Santander Group following the privatization wave in Chile during the late 1980s.