Banco Santander Chile (NYSE:BSAC) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Banco Santander Chile’s price target from $43 to $39 while maintaining an “overweight” rating, implying roughly 19.9% upside from the prior close.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average target price of $35.20; recommendations include one Strong Buy, three Buys, four Holds, and one Sell.
• BSAC traded at $32.52, with the bank reporting quarterly EPS of $0.87, a 27.04% net margin, and a 22.94% return on equity. Institutional investors own approximately 6.42% of the stock.

Banco Santander Chile (NYSE:BSAC - Get Free Report) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $43.00 to $39.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the bank's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 19.93% from the company's previous close.

A number of other brokerages also recently issued reports on BSAC. Zacks Research downgraded shares of Banco Santander Chile from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 27th. Citigroup raised shares of Banco Santander Chile from a "hold" rating to a "buy" rating in a report on Thursday, June 25th. Weiss Ratings upgraded shares of Banco Santander Chile from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of Banco Santander Chile from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, The Goldman Sachs Group upped their target price on Banco Santander Chile from $29.00 to $33.00 and gave the stock a "sell" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $35.20.

Banco Santander Chile Stock Performance

BSAC traded down $0.18 during trading on Tuesday, hitting $32.52. The stock had a trading volume of 153,129 shares, compared to its average volume of 377,481. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.72 and a quick ratio of 0.48. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 0.77 and a beta of 0.49. The company has a 50 day moving average price of $34.68 and a 200-day moving average price of $33.30. Banco Santander Chile has a one year low of $26.03 and a one year high of $37.72.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The bank reported $0.87 EPS for the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 22.94%. The business had revenue of $905.26 million for the quarter. As a group, research analysts predict that Banco Santander Chile will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Banco Santander Chile

A number of hedge funds have recently made changes to their positions in BSAC. Nykredit A S acquired a new position in shares of Banco Santander Chile in the 2nd quarter worth approximately $1,414,000. ABS Direct Equity Fund LLC bought a new stake in shares of Banco Santander Chile in the 2nd quarter valued at $1,317,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Banco Santander Chile during the first quarter worth $1,886,000. Dimensional Fund Advisors LP increased its position in shares of Banco Santander Chile by 9.8% during the first quarter. Dimensional Fund Advisors LP now owns 643,160 shares of the bank's stock worth $21,461,000 after buying an additional 57,400 shares during the period. Finally, INCA Investments LLC raised its stake in Banco Santander Chile by 18.8% during the first quarter. INCA Investments LLC now owns 1,263,892 shares of the bank's stock worth $42,214,000 after buying an additional 199,618 shares during the last quarter. 6.42% of the stock is currently owned by institutional investors.

About Banco Santander Chile

Banco Santander Chile is a Chilean financial institution and a subsidiary of Spain-based Banco Santander. Listed on the New York Stock Exchange under the symbol BSAC, the bank provides banking and financial services to individuals, small and medium-sized businesses, middle-market companies, and large corporations throughout Chile.

Its principal offerings include consumer and commercial loans, mortgages, checking and savings accounts, credit and debit cards, insurance-related products, investment and wealth-management services, and payment and cash-management solutions.

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