Banco Santander Chile $BSAC Holdings Lowered by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly reduced its holdings in Banco Santander Chile by 58.9%, selling 40,960 shares during the first quarter.
• UBS Group raised its target price for Banco Santander Chile from $20.00 to $24.00, while Wall Street Zen downgraded the stock from a "hold" to a "sell" rating.
• The bank reported $0.60 earnings per share for the last quarter, missing the consensus estimate of $0.62, alongside revenue of $757.38 million.

Goldman Sachs Group Inc. reduced its holdings in Banco Santander Chile (NYSE:BSAC - Free Report) by 58.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,534 shares of the bank's stock after selling 40,960 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Banco Santander Chile were worth $651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Strs Ohio bought a new stake in shares of Banco Santander Chile in the 1st quarter worth approximately $2,990,000. Acadian Asset Management LLC bought a new stake in shares of Banco Santander Chile in the 1st quarter worth approximately $240,000. Jane Street Group LLC raised its holdings in shares of Banco Santander Chile by 140.0% in the 1st quarter. Jane Street Group LLC now owns 47,222 shares of the bank's stock worth $1,077,000 after purchasing an additional 27,549 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Banco Santander Chile by 31.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 43,388 shares of the bank's stock worth $989,000 after purchasing an additional 10,420 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of 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 purchasing an additional 87,856 shares in the last quarter. 6.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BSAC shares. UBS Group boosted their target price on shares of Banco Santander Chile from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Wall Street Zen downgraded shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $24.00.

Banco Santander Chile Stock Performance

Banco Santander Chile stock opened at $26.51 on Thursday. The firm's 50 day simple moving average is $24.39 and its 200-day simple moving average is $24.08. The company has a market cap of $12.49 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.00 and a beta of 0.75. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.76 and a quick ratio of 1.76. Banco Santander Chile has a fifty-two week low of $18.19 and a fifty-two week high of $26.83.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.02). The firm had revenue of $757.38 million during the quarter, compared to analysts' expectations of $758.17 million. Banco Santander Chile had a return on equity of 22.21% and a net margin of 24.32%. As a group, equities research analysts predict that Banco Santander Chile will post 2.07 EPS for the current year.

About Banco Santander Chile

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking services in Chile. It operates through Retail Banking, Middle-Market, Corporate Investment Banking, and Corporate Activities segments. The company offers debit and credit cards, checking accounts, and savings products; consumer, automobile, commercial, mortgage, and government-guaranteed loans; and Chilean peso and foreign currency-denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines, as well as mortgage financing services.

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