Banco Santander Chile (NYSE:BSAC) Price Target Raised to $30.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised the price target for Banco Santander Chile from $28.00 to $30.00, indicating a potential upside of 10.05% from the current price.
• The bank's stock is currently rated as "neutral" by JPMorgan, while analysts from other firms have assigned a mix of "hold" and "sell" ratings.
• Banco Santander Chile's recent earnings show a reported EPS of $0.60, falling short of the $0.62 consensus estimate, with a revenue of $757.38 million compared to expectations of $758.17 million.

Banco Santander Chile (NYSE:BSAC - Get Free Report) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $28.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 10.05% from the company's current price.

A number of other research firms have also recently issued reports on BSAC. Weiss Ratings restated a "hold (c)" rating on shares of Banco Santander Chile in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $26.00.

Banco Santander Chile Stock Up 2.0%

NYSE:BSAC opened at $27.26 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.58. The stock has a 50 day moving average of $25.33 and a 200-day moving average of $24.45. The firm has a market capitalization of $12.84 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.00 and a beta of 0.73. Banco Santander Chile has a 52 week low of $18.19 and a 52 week high of $27.31.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.02). Banco Santander Chile had a return on equity of 22.17% and a net margin of 24.32%.The firm had revenue of $757.38 million during the quarter, compared to analyst estimates of $758.17 million. Analysts predict that Banco Santander Chile will post 2.07 EPS for the current year.

Institutional Trading of Banco Santander Chile

Several hedge funds have recently modified their holdings of the stock. Candriam S.C.A. bought a new stake in shares of Banco Santander Chile during the first quarter valued at approximately $25,116,000. TT International Asset Management LTD bought a new stake in shares of Banco Santander Chile during the third quarter valued at approximately $24,685,000. RWC Asset Management LLP grew its stake in shares of Banco Santander Chile by 45.3% during the first quarter. RWC Asset Management LLP now owns 826,754 shares of the bank's stock valued at $18,850,000 after purchasing an additional 257,895 shares during the last quarter. Aberdeen Group plc grew its stake in shares of Banco Santander Chile by 10.8% during the second quarter. Aberdeen Group plc now owns 738,038 shares of the bank's stock valued at $18,525,000 after purchasing an additional 72,203 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Banco Santander Chile by 34.8% during the second quarter. Qube Research & Technologies Ltd now owns 439,613 shares of the bank's stock valued at $11,087,000 after purchasing an additional 113,408 shares during the last quarter. 6.42% of the stock is owned by institutional investors.

Banco Santander Chile Company Profile

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking services in Chile. It operates through Retail Banking, Middle-Market, Corporate Investment Banking, and Corporate Activities segments. The company offers debit and credit cards, checking accounts, and savings products; consumer, automobile, commercial, mortgage, and government-guaranteed loans; and Chilean peso and foreign currency-denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines, as well as mortgage financing services.

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