Banco Santander Chile (NYSE:BSAC) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Banco Santander Chile (NYSE:BSAC) from a neutral rating to an overweight rating in a research report released on Monday morning, Marketbeat reports. They currently have $40.00 target price on the bank’s stock.

Several other brokerages also recently issued reports on BSAC. Itau BBA Securities upgraded shares of Banco Santander Chile from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 19th. Morgan Stanley set a $38.00 target price on 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 report on Tuesday, January 13th. Wall Street Zen upgraded Banco Santander Chile from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Banco Santander Chile currently has an average rating of “Hold” and a consensus target price of $32.75.

Banco Santander Chile Price Performance

Shares of BSAC opened at $31.75 on Monday. The firm has a market capitalization of $14.96 billion, a PE ratio of 13.80 and a beta of 0.57. The company’s 50-day moving average is $34.10 and its 200-day moving average is $30.94. Banco Santander Chile has a fifty-two week low of $20.77 and a fifty-two week high of $37.72. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.77 and a quick ratio of 1.77.

Banco Santander Chile (NYSE:BSAC) last announced its earnings results on Monday, February 9th. The bank reported $0.62 EPS for the quarter. Banco Santander Chile had a net margin of 24.57% and a return on equity of 21.51%. The business had revenue of $740.07 million during the quarter. Equities analysts forecast that Banco Santander Chile will post 2.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Banco Santander Chile in the second quarter valued at approximately $33,000. Smartleaf Asset Management LLC grew its position in Banco Santander Chile by 739.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock worth $47,000 after buying an additional 1,309 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Banco Santander Chile by 199.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock worth $47,000 after acquiring an additional 1,007 shares during the period. EverSource Wealth Advisors LLC increased its stake in Banco Santander Chile by 577.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock worth $39,000 after acquiring an additional 1,329 shares during the period. Finally, Barclays PLC raised its holdings in Banco Santander Chile by 703.0% in the 4th quarter. Barclays PLC now owns 2,666 shares of the bank’s stock valued at $83,000 after acquiring an additional 2,334 shares in the last quarter. 6.42% of the stock is owned by 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.