Renaissance Technologies LLC Sells 82,389 Shares of Banco Santander Chile $BSAC

Key Points

• Renaissance Technologies reduced its Banco Santander Chile stake by 13.2%, selling 82,389 shares during the first quarter. It retained 543,829 shares valued at approximately $18.2 million, representing about 0.12% of the bank.
• Banco Santander Chile reported quarterly EPS of $0.87, revenue of $905.3 million, a 27.04% net margin and a 23.14% return on equity. The stock opened at $35.02, near analysts’ consensus price target of $35.40.
• Analyst sentiment remains mixed but leans positive: Citigroup upgraded the stock to “buy,” while other firms issued ratings ranging from “strong buy” to “sell.” MarketBeat currently reports an overall “Moderate Buy” consensus rating.

Renaissance Technologies LLC trimmed its holdings in shares of Banco Santander Chile (NYSE:BSAC - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,829 shares of the bank's stock after selling 82,389 shares during the period. Renaissance Technologies LLC owned about 0.12% of Banco Santander Chile worth $18,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BSAC. Raymond James Financial Inc. bought a new stake in Banco Santander Chile during the second quarter valued at about $33,000. Smartleaf Asset Management LLC lifted its position in shares of Banco Santander Chile by 739.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank's stock valued at $47,000 after buying an additional 1,309 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Banco Santander Chile by 199.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank's stock valued at $47,000 after buying an additional 1,007 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank's stock valued at $39,000 after buying an additional 1,329 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Banco Santander Chile by 703.0% in the 4th quarter. Barclays PLC now owns 2,666 shares of the bank's stock valued at $83,000 after buying an additional 2,334 shares in the last quarter. Hedge funds and other institutional investors own 6.42% of the company's stock.

Banco Santander Chile Price Performance

Shares of Banco Santander Chile stock opened at $35.02 on Friday. 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 twelve month low of $22.77 and a twelve month high of $37.72. The business has a 50-day moving average price of $32.59 and a 200 day moving average price of $33.20. The firm has a market cap of $16.50 billion, a PE ratio of 13.37, a P/E/G ratio of 0.80 and a beta of 0.52.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The bank reported $0.87 earnings per share (EPS) for the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 23.14%. The firm had revenue of $905.26 million for the quarter. Sell-side analysts predict that Banco Santander Chile will post 2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BSAC has been the subject of a number of recent analyst reports. Citigroup raised Banco Santander Chile from a "hold" rating to a "buy" rating in a research report on Thursday, June 25th. The Goldman Sachs Group increased their price target on Banco Santander Chile from $29.00 to $33.00 and gave the company a "sell" rating in a research note on Thursday, July 16th. Erste Group Bank raised Banco Santander Chile to a "strong-buy" rating in a report on Tuesday, May 5th. Weiss Ratings restated a "hold (c)" rating on shares of Banco Santander Chile in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Banco Santander Chile presently has an average rating of "Moderate Buy" and a consensus price target of $35.40.

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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