Banco Santander Chile (NYSE:BSAC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Banco Santander Chile (NYSE:BSAC - Free Report) by 9.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,483,173 shares of the bank's stock after selling 263,567 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.53% of Banco Santander Chile worth $58,206,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SPX Gestao de Recursos Ltda increased its stake in Banco Santander Chile by 171.7% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 96,355 shares of the bank's stock valued at $1,817,000 after buying an additional 60,889 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Banco Santander Chile by 10.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 258,377 shares of the bank's stock valued at $4,873,000 after buying an additional 24,923 shares during the period. Corient Private Wealth LLC acquired a new position in Banco Santander Chile during the 4th quarter valued at about $232,000. American Century Companies Inc. increased its stake in Banco Santander Chile by 6.3% during the 4th quarter. American Century Companies Inc. now owns 188,808 shares of the bank's stock valued at $3,561,000 after buying an additional 11,122 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Banco Santander Chile by 1.6% during the 4th quarter. JPMorgan Chase & Co. now owns 3,988,659 shares of the bank's stock valued at $75,226,000 after buying an additional 61,242 shares during the period. Institutional investors and hedge funds own 6.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BSAC. Bank of America lowered shares of Banco Santander Chile from a "neutral" rating to an "underperform" rating and set a $24.00 price objective for the company. in a research report on Thursday, May 1st. Wall Street Zen cut shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Finally, UBS Group lifted their price objective on shares of Banco Santander Chile from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.00.

Banco Santander Chile Stock Performance

Shares of BSAC opened at $24.56 on Monday. The firm's 50 day moving average is $24.53 and its 200-day moving average is $22.32. The stock has a market capitalization of $11.57 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.72 and a beta of 0.68. 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 12-month low of $18.19 and a 12-month high of $25.53.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.06. The company had revenue of $767.62 million for the quarter, compared to analysts' expectations of $717.38 billion. Banco Santander Chile had a net margin of 23.00% and a return on equity of 21.48%. Equities research analysts anticipate that Banco Santander Chile will post 2.07 EPS for the current fiscal year.

Banco Santander Chile Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd were given a $1.349 dividend. This is an increase from Banco Santander Chile's previous annual dividend of $1.25. This represents a dividend yield of 4.8%. The ex-dividend date was Wednesday, April 23rd. Banco Santander Chile's dividend payout ratio (DPR) is 43.23%.

Banco Santander Chile Company Profile

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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