INCA Investments LLC Has $42.21 Million Position in Banco Santander Chile $BSAC

Key Points

• INCA Investments LLC increased its stake in Banco Santander Chile by 18.8% in the first quarter, buying 199,618 more shares and bringing its total holding to 1,263,892 shares worth about $42.21 million.
• Banco Santander Chile’s stock opened at $33.45 and has a market value of $15.76 billion; the bank also reported quarterly EPS of $0.63 and revenue of $791.52 million.
• Analyst sentiment is mixed but generally positive, with a consensus rating of Moderate Buy and an average price target of $36.00.

INCA Investments LLC boosted its stake in shares of Banco Santander Chile (NYSE:BSAC - Free Report) by 18.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,263,892 shares of the bank's stock after buying an additional 199,618 shares during the period. Banco Santander Chile accounts for about 15.0% of INCA Investments LLC's investment portfolio, making the stock its 3rd biggest holding. INCA Investments LLC owned approximately 0.27% of Banco Santander Chile worth $42,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of BSAC. QRG Capital Management Inc. bought a new position in shares of Banco Santander Chile in the 1st quarter worth $214,000. WD Rutherford LLC purchased a new stake in shares of Banco Santander Chile during the 1st quarter worth $3,905,000. Deprince Race & Zollo Inc. boosted its position in Banco Santander Chile by 78.7% during the first quarter. Deprince Race & Zollo Inc. now owns 193,499 shares of the bank's stock valued at $6,463,000 after purchasing an additional 85,215 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Banco Santander Chile during the fourth quarter valued at about $292,000. Finally, Invesco Ltd. grew its stake in Banco Santander Chile by 18.3% in the fourth quarter. Invesco Ltd. now owns 43,551 shares of the bank's stock valued at $1,355,000 after purchasing an additional 6,745 shares during the last quarter. Institutional investors own 6.42% of the company's stock.

Banco Santander Chile Stock Performance

Shares of Banco Santander Chile stock opened at $33.45 on Friday. The company has a 50 day moving average price of $31.68 and a 200 day moving average price of $32.97. The firm has a market capitalization of $15.76 billion, a P/E ratio of 14.42, a PEG ratio of 0.80 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.26. Banco Santander Chile has a 52 week low of $22.77 and a 52 week high of $37.72.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its earnings results on Monday, April 13th. The bank reported $0.63 earnings per share for the quarter. The company had revenue of $791.52 million for the quarter. Banco Santander Chile had a net margin of 24.95% and a return on equity of 21.00%. Sell-side analysts expect that Banco Santander Chile will post 2.79 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Itau BBA Securities raised shares of Banco Santander Chile from a "market perform" rating to an "outperform" rating in a research report on Thursday, March 19th. Bank of America raised shares of Banco Santander Chile from an "underperform" rating to a "neutral" rating and set a $35.00 price objective on the stock in a research report on Wednesday, April 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Banco Santander Chile in a research note on Monday, April 20th. Wall Street Zen raised shares of Banco Santander Chile from a "sell" rating to a "hold" rating in a research report on Sunday, May 24th. Finally, Erste Group Bank raised shares of Banco Santander Chile to a "strong-buy" rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.00.

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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