Arrowstreet Capital Limited Partnership Sells 399,712 Shares of Banco Santander Chile $BSAC

Key Points

• Arrowstreet Capital cut its Banco Santander Chile stake by 97.4%, selling 399,712 shares and retaining 10,546 shares worth approximately $352,000. Institutional investors collectively own 6.42% of BSAC.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $35.40, despite mixed recent upgrades and downgrades.
• BSAC opened at $35.13 after a 1.6% decline; the bank reported quarterly earnings of $0.87 per share on $905.26 million in revenue, with a 27.04% net margin and 22.94% return on equity.

Arrowstreet Capital Limited Partnership decreased its holdings in Banco Santander Chile (NYSE:BSAC - Free Report) by 97.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,546 shares of the bank's stock after selling 399,712 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Banco Santander Chile were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BSAC. AQR Capital Management LLC increased its stake in Banco Santander Chile by 457.1% in the 1st quarter. AQR Capital Management LLC now owns 107,076 shares of the bank's stock worth $2,441,000 after buying an additional 87,856 shares during the period. Jane Street Group LLC boosted its position in Banco Santander Chile by 140.0% in the 1st quarter. Jane Street Group LLC now owns 47,222 shares of the bank's stock valued at $1,077,000 after buying an additional 27,549 shares during the period. Acadian Asset Management LLC purchased a new stake in Banco Santander Chile in the 1st quarter valued at about $240,000. Creative Planning grew its stake in Banco Santander Chile by 19.1% in the 2nd quarter. Creative Planning now owns 16,854 shares of the bank's stock worth $425,000 after acquiring an additional 2,697 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Banco Santander Chile by 577.8% during the second 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. 6.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BSAC has been the subject of a number of research reports. UBS Group lowered their price target on Banco Santander Chile from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Friday, May 22nd. Citigroup raised Banco Santander Chile from a "hold" rating to a "buy" rating in a research report on Thursday, June 25th. 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. Zacks Research raised shares of Banco Santander Chile from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Banco Santander Chile currently has an average rating of "Moderate Buy" and an average target price of $35.40.

Banco Santander Chile Trading Down 1.6%

NYSE BSAC opened at $35.13 on Friday. Banco Santander Chile has a 12-month low of $23.31 and a 12-month high of $37.72. The company has a fifty day simple moving average of $33.00 and a two-hundred day simple moving average of $33.29. The company has a current ratio of 1.72, a quick ratio of 0.48 and a debt-to-equity ratio of 2.06. The stock has a market cap of $16.55 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.89 and a beta of 0.52.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last announced 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 22.94%. On average, analysts forecast that Banco Santander Chile will post 2.89 earnings per share for the current year.

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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