Zurcher Kantonalbank Zurich Cantonalbank Decreases Position in Banco Santander Chile (NYSE:BSAC)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has reduced its stake in Banco Santander Chile by 16.1%, owning 88,035 shares after selling 16,916 shares during the first quarter.
• Analysts have set varying price targets for Banco Santander Chile, with UBS Group increasing their target to $24.00 and Bank of America downgrading the stock to an "underperform" rating at the same target.
• Banco Santander Chile's stock recently opened at $23.11, and the bank reported earnings of $0.60 per share for the last quarter, missing analyst estimates slightly.

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Banco Santander Chile (NYSE:BSAC - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,035 shares of the bank's stock after selling 16,916 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Banco Santander Chile were worth $2,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BSAC. American Century Companies Inc. lifted its position in shares of Banco Santander Chile by 6.3% during the fourth quarter. American Century Companies Inc. now owns 188,808 shares of the bank's stock worth $3,561,000 after purchasing an additional 11,122 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Banco Santander Chile by 9.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 629,275 shares of the bank's stock worth $11,868,000 after purchasing an additional 55,061 shares during the last quarter. Atlas Capital Advisors Inc. grew its holdings in shares of Banco Santander Chile by 12.3% in the fourth quarter. Atlas Capital Advisors Inc. now owns 7,897 shares of the bank's stock worth $149,000 after purchasing an additional 863 shares during the last quarter. Integrated Quantitative Investments LLC bought a new stake in Banco Santander Chile in the fourth quarter valued at $817,000. Finally, Renaissance Technologies LLC boosted its holdings in Banco Santander Chile by 21.4% in the fourth quarter. Renaissance Technologies LLC now owns 659,627 shares of the bank's stock valued at $12,441,000 after acquiring an additional 116,200 shares in the last quarter. 6.42% of the stock is currently owned by institutional investors.

Banco Santander Chile Trading Down 0.6%

Shares of Banco Santander Chile stock traded down $0.13 during trading hours on Wednesday, hitting $23.19. The company's stock had a trading volume of 92,650 shares, compared to its average volume of 365,362. Banco Santander Chile has a twelve month low of $18.19 and a twelve month high of $25.53. The firm has a fifty day moving average of $24.21 and a 200-day moving average of $23.26. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.90 and a beta of 0.67. 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 posted 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 during the quarter, compared to analysts' expectations of $758.17 million. Banco Santander Chile had a net margin of 24.32% and a return on equity of 22.21%. Research analysts forecast that Banco Santander Chile will post 2.07 EPS for the current year.

Analyst Ratings Changes

BSAC has been the subject of several recent analyst reports. Wall Street Zen lowered Banco Santander Chile from a "buy" rating to a "hold" rating in a research report on Saturday. Bank of America lowered Banco Santander Chile from a "neutral" rating to an "underperform" rating and set a $24.00 target price for the company. in a research report on Thursday, May 1st. Finally, UBS Group boosted their target price on Banco Santander Chile from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, June 2nd.

Banco Santander Chile 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.