INCA Investments LLC Sells 158,391 Shares of Banco Santander Chile $BSAC

Key Points

• INCA Investments LLC reduced its stake in Banco Santander Chile ($BSAC) by 23.2%, selling 158,391 shares during the second quarter.
• Banco Santander Chile has a market cap of $12.84 billion and reported earnings of $0.60 EPS, missing the consensus estimate.
• Several institutional investors have recently increased their stakes in Banco Santander Chile, with notable increases from RWC Asset Management LLP (45.3%) and Robeco Institutional Asset Management B.V. (120.6%).

INCA Investments LLC lessened its stake in Banco Santander Chile (NYSE:BSAC - Free Report) by 23.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 524,178 shares of the bank's stock after selling 158,391 shares during the quarter. Banco Santander Chile makes up approximately 5.1% of INCA Investments LLC's holdings, making the stock its 8th biggest holding. INCA Investments LLC owned about 0.11% of Banco Santander Chile worth $13,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Candriam S.C.A. acquired a new stake in Banco Santander Chile during the first quarter worth about $25,116,000. RWC Asset Management LLP raised its stake in Banco Santander Chile by 45.3% during the first quarter. RWC Asset Management LLP now owns 826,754 shares of the bank's stock worth $18,850,000 after acquiring an additional 257,895 shares during the period. Aberdeen Group plc raised its stake in Banco Santander Chile by 10.8% during the second quarter. Aberdeen Group plc now owns 738,038 shares of the bank's stock worth $18,525,000 after acquiring an additional 72,203 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Banco Santander Chile by 20.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 311,277 shares of the bank's stock worth $7,097,000 after acquiring an additional 52,900 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in Banco Santander Chile by 120.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 276,728 shares of the bank's stock worth $6,979,000 after acquiring an additional 151,310 shares during the period. Institutional investors and hedge funds own 6.42% of the company's stock.

Banco Santander Chile Price Performance

NYSE BSAC opened at $27.26 on Thursday. Banco Santander Chile has a 52 week low of $18.19 and a 52 week high of $27.31. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.58. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.00 and a beta of 0.73. The company has a 50-day moving average price of $25.33 and a two-hundred day moving average price of $24.45.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last posted its earnings results on Thursday, July 31st. The bank reported $0.60 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.02). Banco Santander Chile had a return on equity of 22.17% and a net margin of 24.32%.The firm had revenue of $757.38 million during the quarter, compared to the consensus estimate of $758.17 million. Analysts forecast that Banco Santander Chile will post 2.07 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BSAC. Weiss Ratings reiterated a "hold (c)" rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $24.00.

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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