Banco Santander Chile $BSAC Shares Sold by Investors Research Corp

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 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,625 shares of the bank's stock after selling 12,475 shares during the period. Investors Research Corp's holdings in Banco Santander Chile were worth $41,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BSAC. Brooklyn Investment Group lifted its stake in shares of Banco Santander Chile by 54,450.0% during the first quarter. Brooklyn Investment Group now owns 1,091 shares of the bank's stock worth $25,000 after purchasing an additional 1,089 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Banco Santander Chile by 3,456.9% during the first quarter. GAMMA Investing LLC now owns 8,003 shares of the bank's stock worth $182,000 after buying an additional 7,778 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Banco Santander Chile in the first quarter worth approximately $206,000. Natixis Advisors LLC bought a new position in shares of Banco Santander Chile in the first quarter valued at $238,000. Finally, Acadian Asset Management LLC bought a new position in shares of Banco Santander Chile in the first quarter valued at $240,000. Institutional investors and hedge funds own 6.42% of the company's stock.

Analysts Set New Price Targets

BSAC has been the subject of a number of recent research reports. UBS Group upped their price objective on shares of Banco Santander Chile from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Wall Street Zen lowered Banco Santander Chile from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $24.00.

Banco Santander Chile Stock Performance

BSAC stock traded up $0.06 during trading on Friday, reaching $25.57. The company had a trading volume of 59,495 shares, compared to its average volume of 352,913. 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 company has a market cap of $12.05 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.75. The firm has a 50-day simple moving average of $24.18 and a 200-day simple moving average of $23.97. Banco Santander Chile has a twelve month low of $18.19 and a twelve month high of $26.60.

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 analysts' consensus estimates of $0.62 by ($0.02). The company had revenue of $757.38 million during the quarter, compared to analyst estimates of $758.17 million. Banco Santander Chile had a net margin of 24.32% and a return on equity of 22.21%. As a group, sell-side analysts expect that Banco Santander Chile will post 2.07 earnings per share for the current year.

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.