Banco Santander Chile (NYSE:BSAC) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Banco Santander Chile from “hold” to “strong-buy,” while analyst sentiment overall remains “Moderate Buy” with an average price target of $35.40.
• The stock opened at $35.02 and has traded between $22.77 and $37.72 over the past year. The bank reported quarterly earnings of $0.87 per share, $905.26 million in revenue, a 27.04% net margin, and a 23.14% return on equity.
• Institutional ownership stands at 6.42%, with several investment firms—including Barclays and Smartleaf Asset Management—recently increasing their positions.

Banco Santander Chile (NYSE:BSAC - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Erste Group Bank upgraded shares of Banco Santander Chile to a "strong-buy" rating in a research note on Tuesday, May 5th. UBS Group dropped their price target on shares of Banco Santander Chile from $32.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Bank of America raised shares of Banco Santander Chile from an "underperform" rating to a "neutral" rating and set a $35.00 price target for the company in a report on Wednesday, April 1st. The Goldman Sachs Group raised their price objective 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. Finally, Wall Street Zen lowered Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.40.

Banco Santander Chile Price Performance

Banco Santander Chile stock opened at $35.02 on Wednesday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.48 and a quick ratio of 0.48. The business has a 50 day simple moving average of $32.59 and a 200-day simple moving average of $33.20. Banco Santander Chile has a 12 month low of $22.77 and a 12 month high of $37.72. The stock has a market capitalization of $16.50 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $0.87 earnings per share for the quarter. The firm had revenue of $905.26 million for the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 23.14%. Equities analysts predict that Banco Santander Chile will post 2.89 earnings per share for the current year.

Hedge Funds Weigh In On Banco Santander Chile

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Banco Santander Chile during the 2nd quarter worth about $33,000. Smartleaf Asset Management LLC lifted its holdings in shares of Banco Santander Chile by 739.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank's stock valued at $47,000 after acquiring an additional 1,309 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Banco Santander Chile by 199.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank's stock worth $47,000 after buying an additional 1,007 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Banco Santander Chile by 577.8% in 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 boosted its stake in shares of Banco Santander Chile by 703.0% in the fourth quarter. Barclays PLC now owns 2,666 shares of the bank's stock valued at $83,000 after purchasing an additional 2,334 shares during the period. 6.42% of the stock is owned by institutional investors and hedge funds.

Banco Santander Chile Company Profile

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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