SPX Gestao de Recursos Ltda Buys New Shares in Banco Santander Chile $BSAC

Key Points

• SPX Gestao de Recursos Ltda opened a new position in Banco Santander Chile during the first quarter, buying 56,479 shares valued at about $1.89 million.
• Other institutional investors also increased their stakes, while overall institutional ownership stands at 6.42% of the stock.
• Banco Santander Chile reported Q2 EPS of $0.88, and analysts currently rate the stock a Moderate Buy with an average target price of $35.40.

SPX Gestao de Recursos Ltda bought a new position in Banco Santander Chile (NYSE:BSAC - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 56,479 shares of the bank's stock, valued at approximately $1,886,000.

Several other hedge funds have also added to or reduced their stakes in the business. Advisors Preferred LLC boosted its position in Banco Santander Chile by 74.3% during the first quarter. Advisors Preferred LLC now owns 35,333 shares of the bank's stock valued at $1,180,000 after buying an additional 15,061 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Banco Santander Chile by 8.8% in the first quarter. Sequoia Financial Advisors LLC now owns 7,645 shares of the bank's stock worth $255,000 after buying an additional 618 shares during the period. INCA Investments LLC increased its holdings in shares of Banco Santander Chile by 18.8% in the first quarter. INCA Investments LLC now owns 1,263,892 shares of the bank's stock worth $42,214,000 after buying an additional 199,618 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Banco Santander Chile in the 1st quarter valued at about $214,000. Finally, WD Rutherford LLC bought a new stake in shares of Banco Santander Chile in the 1st quarter valued at about $3,905,000. 6.42% of the stock is owned by institutional investors.

Banco Santander Chile Price Performance

BSAC opened at $32.88 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.48 and a current ratio of 0.48. Banco Santander Chile has a 52-week low of $22.77 and a 52-week high of $37.72. The stock has a market capitalization of $15.49 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. The stock's 50 day moving average price is $31.96 and its 200-day moving average price is $33.05.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last announced its quarterly earnings results on Friday, July 10th. The bank reported $0.88 EPS for the quarter. Banco Santander Chile had a return on equity of 21.00% and a net margin of 24.95%. On average, equities research analysts predict that Banco Santander Chile will post 2.79 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on BSAC. UBS Group reduced their price target on Banco Santander Chile from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Erste Group Bank upgraded Banco Santander Chile to a "strong-buy" rating in a research report on Tuesday, May 5th. Wall Street Zen lowered Banco Santander Chile from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Bank of America upgraded shares of Banco Santander Chile from an "underperform" rating to a "neutral" rating and set a $35.00 target price on the stock in a report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Banco Santander Chile in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Banco Santander Chile has an average rating of "Moderate Buy" and an average target price 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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