Allspring Global Investments Holdings LLC Trims Holdings in Banco Santander Chile $BSAC

Key Points

• Allspring Global Investments cut its stake in Banco Santander Chile by 10.6% in the first quarter, selling 136,504 shares and ending with 1,149,112 shares worth about $38.7 million.
• Other institutional investors were active as well, with several funds increasing their positions sharply; overall, hedge funds and other institutions now own 6.42% of the company.
• Analyst sentiment is mixed but leaning positive: the stock has a “Moderate Buy” consensus with an average target price of $35.40, while shares recently traded at $32.88 after the bank reported quarterly EPS of $0.88.

Allspring Global Investments Holdings LLC reduced its stake in Banco Santander Chile (NYSE:BSAC - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,149,112 shares of the bank's stock after selling 136,504 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.24% of Banco Santander Chile worth $38,702,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Banco Santander Chile during the second quarter worth $33,000. EverSource Wealth Advisors LLC boosted its holdings in Banco Santander Chile by 577.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank's stock valued at $39,000 after acquiring an additional 1,329 shares during the period. Farther Finance Advisors LLC boosted its holdings in Banco Santander Chile by 199.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank's stock valued at $47,000 after acquiring an additional 1,007 shares during the period. Smartleaf Asset Management LLC grew its position in Banco Santander Chile by 739.5% in 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. Finally, Barclays PLC grew its position in Banco Santander Chile by 703.0% in the 4th quarter. Barclays PLC now owns 2,666 shares of the bank's stock valued at $83,000 after acquiring an additional 2,334 shares in the last quarter. Hedge funds and other institutional investors own 6.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSAC. Bank of America raised shares of Banco Santander Chile from an "underperform" rating to a "neutral" rating and set a $35.00 price target on the stock in a research report on Wednesday, April 1st. Weiss Ratings restated a "hold (c)" rating on shares of Banco Santander Chile in a report on Monday, April 20th. JPMorgan Chase & Co. raised shares of Banco Santander Chile from a "neutral" rating to an "overweight" rating and set a $40.00 target price on the stock in a research note on Monday, March 30th. Wall Street Zen lowered shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Finally, Erste Group Bank raised shares of Banco Santander Chile to a "strong-buy" rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $35.40.

Banco Santander Chile Stock Up 0.1%

BSAC stock opened at $32.88 on Monday. The company's 50 day moving average price is $31.96 and its 200 day moving average price is $33.06. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.48 and a current ratio of 0.48. Banco Santander Chile has a fifty-two week low of $22.77 and a fifty-two week high of $37.72. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.80 and a beta of 0.52.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last issued its quarterly earnings results on Friday, July 10th. The bank reported $0.88 earnings per share (EPS) for the quarter. Banco Santander Chile had a net margin of 24.95% and a return on equity of 21.00%. On average, equities research analysts anticipate that Banco Santander Chile will post 2.79 EPS for the current fiscal year.

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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