Nykredit A S Invests $1.41 Million in Banco Santander Chile $BSAC

Key Points

• Nykredit A/S purchased a new 42,950-share stake in Banco Santander Chile during the second quarter, valued at approximately $1.41 million.
• Several institutional investors increased their BSAC holdings, including USS Investment Management, which raised its stake by 45.5%. Hedge funds and other institutional investors collectively own 6.42% of the company.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $35.40. BSAC opened at $35.68, while the bank reported quarterly EPS of $0.87, a 22.94% return on equity and a 27.04% net margin.

Nykredit A S purchased a new stake in shares of Banco Santander Chile (NYSE:BSAC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 42,950 shares of the bank's stock, valued at approximately $1,414,000.

A number of other hedge funds have also recently modified their holdings of BSAC. Vanguard Group Inc. increased its position in Banco Santander Chile by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,599,117 shares of the bank's stock worth $49,749,000 after purchasing an additional 5,660 shares during the last quarter. USS Investment Management Ltd grew its stake in shares of Banco Santander Chile by 45.5% in the 4th quarter. USS Investment Management Ltd now owns 1,561,544 shares of the bank's stock valued at $48,603,000 after buying an additional 488,676 shares during the period. INCA Investments LLC grew its stake in shares of Banco Santander Chile by 18.8% in the 1st quarter. INCA Investments LLC now owns 1,263,892 shares of the bank's stock valued at $42,214,000 after buying an additional 199,618 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Banco Santander Chile by 9.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 643,160 shares of the bank's stock worth $21,461,000 after buying an additional 57,400 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Banco Santander Chile by 8.7% during the 4th quarter. Renaissance Technologies LLC now owns 626,218 shares of the bank's stock worth $19,482,000 after buying an additional 50,191 shares during the last quarter. Hedge funds and other institutional investors own 6.42% of the company's stock.

Analysts Set New Price Targets

BSAC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Banco Santander Chile from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings raised Banco Santander Chile from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. The Goldman Sachs Group lifted their target price on Banco Santander Chile from $29.00 to $33.00 and gave the company a "sell" rating in a research report on Thursday, July 16th. Zacks Research lowered Banco Santander Chile from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 27th. Finally, Citigroup upgraded Banco Santander Chile from a "hold" rating to a "buy" rating in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.40.

Banco Santander Chile Stock Performance

Banco Santander Chile stock opened at $35.68 on Tuesday. Banco Santander Chile has a fifty-two week low of $25.23 and a fifty-two week high of $37.72. The stock's 50 day simple moving average is $34.37 and its two-hundred day simple moving average is $33.15. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.48 and a current ratio of 1.72. The stock has a market cap of $16.81 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.86 and a beta of 0.51.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its earnings results on Tuesday, June 30th. The bank reported $0.87 EPS for the quarter. Banco Santander Chile had a return on equity of 22.94% and a net margin of 27.04%.The company had revenue of $905.26 million during the quarter. As a group, analysts expect that Banco Santander Chile will post 2.99 earnings per share for the current fiscal year.

About Banco Santander Chile

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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