Banco Santander Chile (NYSE:BSAC) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Banco Santander Chile from “sell” to “hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $35.40.
• BSAC shares were trading at $34.52, up 0.7%, with a market capitalization of $16.26 billion; the stock has ranged from $23.31 to $37.72 over the past year.
• The bank reported quarterly EPS of $0.87 on $905.26 million in revenue, with a 27.04% net margin and 22.94% return on equity. Institutional investors own 6.42% of the company.

Banco Santander Chile (NYSE:BSAC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

A number of other research analysts have also recently issued reports on the company. Erste Group Bank raised Banco Santander Chile to a "strong-buy" rating in a research note on Tuesday, May 5th. Zacks Research upgraded Banco Santander Chile from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. The Goldman Sachs Group lifted their price objective on Banco Santander Chile from $29.00 to $33.00 and gave the company a "sell" rating in a report on Thursday, July 16th. UBS Group decreased their price objective on Banco Santander Chile from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Finally, Citigroup raised Banco Santander Chile from a "hold" rating to a "buy" rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $35.40.

Banco Santander Chile Trading Up 0.7%

Shares of NYSE BSAC opened at $34.52 on Friday. The company's fifty day moving average is $33.41 and its 200-day moving average is $33.30. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 0.85 and a beta of 0.52. Banco Santander Chile has a twelve month low of $23.31 and a twelve month high of $37.72. The company has a quick ratio of 0.48, a current ratio of 1.72 and a debt-to-equity ratio of 2.06.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The bank reported $0.87 EPS for the quarter. The business had revenue of $905.26 million during the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 22.94%. Equities research analysts predict that Banco Santander Chile will post 2.92 EPS for the current year.

Institutional Trading of Banco Santander Chile

Several hedge funds and other institutional investors have recently modified their holdings of BSAC. SPX Gestao de Recursos Ltda acquired a new position in shares of Banco Santander Chile during the first quarter worth about $1,886,000. INCA Investments LLC raised its position in Banco Santander Chile by 18.8% in the 1st quarter. INCA Investments LLC now owns 1,263,892 shares of the bank's stock valued at $42,214,000 after buying an additional 199,618 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Banco Santander Chile by 9.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 643,160 shares of the bank's stock valued at $21,461,000 after buying an additional 57,400 shares during the last quarter. Banco BTG Pactual S.A. bought a new stake in Banco Santander Chile in the 4th quarter valued at approximately $809,000. Finally, UBS Group AG lifted its stake in Banco Santander Chile by 69.4% in the 4th quarter. UBS Group AG now owns 78,855 shares of the bank's stock valued at $2,453,000 after acquiring an additional 32,297 shares in the last quarter. Institutional investors and hedge funds own 6.42% of the company's stock.

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.

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