Banco Santander Chile (NYSE:BSAC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Banco Santander Chile from “hold” to “sell.” Overall, analysts remain at a “hold” consensus, with a $35.20 average price target.
• Analyst opinions were mixed: JPMorgan cut its target to $39 while keeping an “overweight” rating; Goldman Sachs raised its target to $33 but maintained a “sell” rating.
• The bank reported quarterly earnings of $0.52 per share on $720.33 million in revenue. Its shares opened at $32.34, within a 12-month range of $28.65 to $37.72.

Banco Santander Chile (NYSE:BSAC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Banco Santander Chile from $43.00 to $39.00 and set an "overweight" rating on the stock in a report on Tuesday, October 6th. Weiss Ratings lowered shares of Banco Santander Chile from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. Zacks Research lowered shares of Banco Santander Chile from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group increased their price target on shares of Banco Santander Chile from $29.00 to $33.00 and gave the company a "sell" rating in a research report on Thursday, July 16th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Banco Santander Chile has a consensus rating of "Hold" and a consensus price target of $35.20.

Banco Santander Chile Stock Performance

Shares of Banco Santander Chile stock opened at $32.34 on Friday. The business's fifty day simple moving average is $33.32 and its 200 day simple moving average is $33.42. The firm has a market capitalization of $15.23 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 0.78 and a beta of 0.58. Banco Santander Chile has a 12 month low of $28.65 and a 12 month high of $37.72. The company has a current ratio of 1.72, a quick ratio of 0.48 and a debt-to-equity ratio of 2.06.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its earnings results on Tuesday, October 13th. The bank reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $720.33 million during the quarter. Banco Santander Chile had a return on equity of 23.55% and a net margin of 26.85%. As a group, analysts anticipate that Banco Santander Chile will post 2.91 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. Integrated Wealth Concepts LLC bought a new position in Banco Santander Chile in the second quarter worth about $35,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Banco Santander Chile by 63.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank's stock valued at $56,000 after buying an additional 653 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Banco Santander Chile in the 3rd quarter valued at about $78,000. Public Employees Retirement System of Ohio purchased a new position in shares of Banco Santander Chile in the 2nd quarter worth approximately $90,000. Finally, Parallel Advisors LLC boosted its stake in Banco Santander Chile by 73.6% in the first quarter. Parallel Advisors LLC now owns 4,895 shares of the bank's stock valued at $163,000 after acquiring an additional 2,076 shares in the last quarter. Institutional investors own 6.42% of the company's stock.

About Banco Santander Chile

Banco Santander Chile NYSE: BSAC is a commercial bank headquartered in Santiago, Chile. It provides banking and financial services to individuals, small and midsize businesses, corporations, and institutional clients throughout Chile. The bank operates as part of the global Santander Group, headquartered in Spain.

Its products and services include checking and savings accounts, credit and debit cards, consumer and residential mortgage loans, commercial lending, working-capital financing, and other forms of credit.

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