ABS Direct Equity Fund LLC Makes New Investment in Banco Santander Chile $BSAC

Key Points

• ABS Direct Equity Fund LLC purchased 40,000 shares of Banco Santander Chile in the second quarter, valued at approximately $1.317 million. Institutional investors collectively own 6.42% of the bank.
• Banco Santander Chile reported quarterly EPS of $0.87 on $905.26 million in revenue, with a 27.04% net margin and 22.94% return on equity. Analysts expect full-year EPS of $2.99.
• Analyst sentiment is mixed but has improved, including Citigroup’s upgrade to “buy”; the stock has a consensus “hold” rating and an average price target of $35.40, compared with a recent price of $35.23.

ABS Direct Equity Fund LLC purchased a new position in Banco Santander Chile (NYSE:BSAC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 40,000 shares of the bank's stock, valued at approximately $1,317,000.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Banco Santander Chile by 8.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,645 shares of the bank's stock worth $255,000 after acquiring an additional 618 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Banco Santander Chile by 63.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank's stock valued at $56,000 after acquiring an additional 653 shares during the last quarter. Wells Fargo & Company MN increased its stake in Banco Santander Chile by 22.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,949 shares of the bank's stock valued at $123,000 after acquiring an additional 731 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Banco Santander Chile by 6.9% in the first quarter. PNC Financial Services Group Inc. now owns 11,629 shares of the bank's stock valued at $388,000 after acquiring an additional 755 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Banco Santander Chile by 29.1% during the fourth quarter. Advisors Asset Management Inc. now owns 3,398 shares of the bank's stock valued at $106,000 after purchasing an additional 766 shares in the last quarter. Institutional investors own 6.42% of the company's stock.

Banco Santander Chile Price Performance

Shares of Banco Santander Chile stock opened at $35.23 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.72 and a quick ratio of 0.48. Banco Santander Chile has a one year low of $25.51 and a one year high of $37.72. The business's 50 day simple moving average is $34.54 and its two-hundred day simple moving average is $33.14. The stock has a market capitalization of $16.60 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 0.85 and a beta of 0.51.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last issued its earnings results on Tuesday, June 30th. The bank reported $0.87 EPS for the quarter. The company 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 22.94%. Analysts forecast that Banco Santander Chile will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BSAC. Citigroup upgraded Banco Santander Chile from a "hold" rating to a "buy" rating in a report on Thursday, June 25th. Weiss Ratings raised Banco Santander Chile from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Wall Street Zen upgraded Banco Santander Chile from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. UBS Group cut their target price on Banco Santander Chile from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. 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 equities 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $35.40.

Banco Santander Chile Profile

Banco Santander Chile is a Chilean banking institution and a subsidiary of Banco Santander, SA The bank provides financial services to individuals, small and midsize businesses, companies, and institutional clients throughout Chile.

Its offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit and debit cards, payment services, foreign-exchange services, insurance-related products, and investment and wealth-management solutions. Banco Santander Chile also provides corporate and investment-banking services, including financing, cash management, and other services for larger companies and institutional customers.

The bank traces its modern history to Santander's expansion in Chile and the consolidation of Banco Santander Chile and Banco Santiago in the early 2000s.

Want to see what other hedge funds are holding BSAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Santander Chile (NYSE:BSAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.