Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Banco Santander Chile (NYSE:BSAC)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Banco Santander Chile by 20.5%, owning 311,277 shares worth approximately $7.1 million.
• Recent earnings results showed the bank reported $0.60 EPS, missing estimates, while revenues were $757.38 million, slightly below expectations.
• Wall Street analysts have mixed views, with ratings ranging from "buy" to "underperform," and a target price adjustment from $20.00 to $24.00 by UBS Group.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Banco Santander Chile (NYSE:BSAC - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 311,277 shares of the bank's stock after purchasing an additional 52,900 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Banco Santander Chile worth $7,097,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. RWC Asset Management LLP boosted its stake in shares of Banco Santander Chile by 45.3% during the first quarter. RWC Asset Management LLP now owns 826,754 shares of the bank's stock valued at $18,850,000 after purchasing an additional 257,895 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Banco Santander Chile by 247.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 274,114 shares of the bank's stock valued at $5,170,000 after acquiring an additional 195,189 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Banco Santander Chile by 21.4% during the fourth quarter. Renaissance Technologies LLC now owns 659,627 shares of the bank's stock valued at $12,441,000 after buying an additional 116,200 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Banco Santander Chile by 44.9% during the fourth quarter. Marshall Wace LLP now owns 365,478 shares of the bank's stock valued at $6,893,000 after buying an additional 113,325 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Banco Santander Chile by 123.1% during the fourth quarter. Northern Trust Corp now owns 147,392 shares of the bank's stock valued at $2,780,000 after buying an additional 81,322 shares during the last quarter. 6.42% of the stock is currently owned by institutional investors.

Banco Santander Chile Stock Performance

Shares of BSAC traded up $0.19 during mid-day trading on Friday, reaching $24.23. The company had a trading volume of 191,965 shares, compared to its average volume of 360,822. The stock has a market capitalization of $11.41 billion, a P/E ratio of 10.09, a PEG ratio of 0.92 and a beta of 0.67. Banco Santander Chile has a 52-week low of $18.19 and a 52-week high of $25.53. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 2.61. The stock has a 50 day moving average of $24.13 and a two-hundred day moving average of $23.44.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group increased their price objective on Banco Santander Chile from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Bank of America cut Banco Santander Chile from a "neutral" rating to an "underperform" rating and set a $24.00 price objective on the stock. in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded Banco Santander Chile from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

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.