Allspring Global Investments Holdings LLC Sells 611,603 Shares of Banco Santander Chile $BSAC

Allspring Global Investments Holdings LLC cut its holdings in shares of Banco Santander Chile (NYSE:BSAC) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,285,616 shares of the bank’s stock after selling 611,603 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.27% of Banco Santander Chile worth $40,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSAC. American Century Companies Inc. lifted its stake in Banco Santander Chile by 31.6% during the 2nd quarter. American Century Companies Inc. now owns 271,733 shares of the bank’s stock valued at $6,853,000 after acquiring an additional 65,264 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Banco Santander Chile in the 3rd quarter worth $597,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Banco Santander Chile by 200.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 832,647 shares of the bank’s stock valued at $22,065,000 after purchasing an additional 555,919 shares during the last quarter. INCA Investments LLC raised its holdings in shares of Banco Santander Chile by 36.4% in the third quarter. INCA Investments LLC now owns 715,192 shares of the bank’s stock valued at $18,953,000 after purchasing an additional 191,014 shares during the last quarter. Finally, TT International Asset Management LTD bought a new position in shares of Banco Santander Chile in the third quarter valued at approximately $24,685,000. 6.42% of the stock is owned by institutional investors.

Banco Santander Chile Stock Down 1.5%

BSAC stock opened at $33.18 on Friday. The stock has a 50-day simple moving average of $34.07 and a two-hundred day simple moving average of $31.03. Banco Santander Chile has a twelve month low of $20.77 and a twelve month high of $37.72. The firm has a market capitalization of $15.63 billion, a PE ratio of 14.43, a PEG ratio of 1.02 and a beta of 0.55. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.94.

Banco Santander Chile (NYSE:BSAC) last announced its quarterly earnings results on Monday, February 9th. The bank reported $0.62 earnings per share (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 predict that Banco Santander Chile will post 2.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BSAC. JPMorgan Chase & Co. upgraded Banco Santander Chile from a “neutral” rating to an “overweight” rating and set a $40.00 target price on the stock in a research note on Monday. Wall Street Zen upgraded shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Bank of America raised shares of Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, January 21st. Finally, Morgan Stanley set a $38.00 price target on Banco Santander Chile in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Banco Santander Chile presently has a consensus rating of “Hold” and an average target price of $35.50.

Banco Santander Chile Profile

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.