Vanguard Group Inc. Lowers Stock Holdings in Banco Santander Chile $BSAC

Key Points

• Vanguard Group Inc. has reduced its holdings in Banco Santander Chile by 4.1%, selling 69,494 shares to hold a total of 1,615,350 shares worth $36.83 million.
• Several institutional investors, including Tower Research Capital and GAMMA Investing LLC, have significantly increased their stakes in Banco Santander Chile, showcasing a mixed sentiment towards the bank.
• Banco Santander Chile's stock received downgrades from analysts, with Bank of America and Wall Street Zen adjusting their ratings, while UBS targeted a price increase to $24.00.

Vanguard Group Inc. reduced its stake in Banco Santander Chile (NYSE:BSAC - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,615,350 shares of the bank's stock after selling 69,494 shares during the period. Vanguard Group Inc. owned approximately 0.34% of Banco Santander Chile worth $36,830,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Banco Santander Chile by 601.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,810 shares of the bank's stock valued at $34,000 after acquiring an additional 1,552 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Banco Santander Chile by 3,456.9% in the first 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 in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Banco Santander Chile in the first quarter valued at $206,000. Natixis Advisors LLC acquired a new stake in shares of Banco Santander Chile in the first quarter valued at $238,000. Finally, Genus Capital Management Inc. raised its stake in shares of Banco Santander Chile by 200.0% in the first quarter. Genus Capital Management Inc. now owns 11,200 shares of the bank's stock valued at $255,000 after acquiring an additional 22,400 shares in the last quarter. 6.42% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Chile Stock Performance

Shares of BSAC stock traded up $0.04 during mid-day trading on Monday, hitting $24.01. 184,630 shares of the stock were exchanged, compared to its average volume of 269,205. The stock's fifty day simple moving average is $23.98 and its two-hundred day simple moving average is $23.68. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.91 and a beta of 0.75. Banco Santander Chile has a 12-month low of $18.19 and a 12-month high of $25.53. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.76 and a current ratio of 1.76.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.02). The firm had revenue of $757.38 million for the quarter, compared to analysts' expectations of $758.17 million. Banco Santander Chile had a return on equity of 22.21% and a net margin of 24.32%. On average, analysts forecast that Banco Santander Chile will post 2.07 EPS for the current year.

Analysts Set New Price Targets

BSAC has been the topic of a number of analyst reports. Wall Street Zen cut Banco Santander Chile from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group raised their price target on Banco Santander Chile from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price 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.