Investors Research Corp Cuts Stock Position in Banco Santander Chile $BSAC

Key Points

• Investors Research Corp significantly reduced its stake in Banco Santander Chile by 88.5%, leaving it with only 1,625 shares valued at $41,000 at the end of the second quarter.
• Several institutional investors, including Brooklyn Investment Group and GAMMA Investing LLC, increased their holdings in Banco Santander Chile during the first quarter, indicating mixed investor sentiment.
• Banco Santander Chile reported $0.60 earnings per share for the last quarter, missing estimates, while analysts forecast an average earnings per share of 2.07 for the current year.

Investors Research Corp reduced its position in Banco Santander Chile (NYSE:BSAC - Free Report) by 88.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,625 shares of the bank's stock after selling 12,475 shares during the quarter. Investors Research Corp's holdings in Banco Santander Chile were worth $41,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BSAC. Brooklyn Investment Group boosted its holdings in Banco Santander Chile by 54,450.0% during the 1st quarter. Brooklyn Investment Group now owns 1,091 shares of the bank's stock valued at $25,000 after acquiring an additional 1,089 shares during the period. GAMMA Investing LLC boosted its holdings in Banco Santander Chile by 3,456.9% during the 1st quarter. GAMMA Investing LLC now owns 8,003 shares of the bank's stock valued at $182,000 after acquiring an additional 7,778 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Banco Santander Chile during the 1st quarter valued at about $206,000. Natixis Advisors LLC purchased a new stake in Banco Santander Chile during the 1st quarter valued at about $238,000. Finally, Acadian Asset Management LLC purchased a new stake in Banco Santander Chile during the 1st quarter valued at about $240,000. 6.42% of the stock is currently owned by hedge funds and other institutional investors.

Banco Santander Chile Trading Down 2.6%

NYSE BSAC opened at $25.74 on Monday. Banco Santander Chile has a fifty-two week low of $18.19 and a fifty-two week high of $26.60. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a 50 day simple moving average of $24.08 and a two-hundred day simple moving average of $23.89. The stock has a market cap of $12.13 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 0.97 and a beta of 0.75.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its quarterly earnings data 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). Banco Santander Chile had a return on equity of 22.21% and a net margin of 24.32%.The business had revenue of $757.38 million during the quarter, compared to analysts' expectations of $758.17 million. On average, analysts forecast that Banco Santander Chile will post 2.07 earnings per share for the current year.

Analyst Ratings Changes

BSAC has been the subject of several analyst reports. Wall Street Zen cut Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Friday, September 5th. UBS Group increased their target price on Banco Santander Chile from $20.00 to $24.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Banco Santander Chile presently has an average rating of "Reduce" and a consensus price target 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.

Want to see what other hedge funds are holding BSAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Santander Chile (NYSE:BSAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.