ABS Direct Equity Fund LLC Acquires New Stake in Banco Santander-Chile (NYSE:BSAC)

ABS Direct Equity Fund LLC bought a new position in Banco Santander-Chile (NYSE:BSAC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 119,402 shares of the bank's stock, valued at approximately $2,327,000. Banco Santander-Chile comprises 2.2% of ABS Direct Equity Fund LLC's portfolio, making the stock its 14th largest holding.

Several other hedge funds also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Banco Santander-Chile by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 223,831 shares of the bank's stock worth $4,105,000 after purchasing an additional 12,500 shares in the last quarter. RWC Asset Management LLP grew its holdings in shares of Banco Santander-Chile by 48.7% in the third quarter. RWC Asset Management LLP now owns 495,671 shares of the bank's stock valued at $9,091,000 after acquiring an additional 162,396 shares in the last quarter. Henry James International Management Inc. increased its position in shares of Banco Santander-Chile by 5.6% during the third quarter. Henry James International Management Inc. now owns 49,354 shares of the bank's stock valued at $905,000 after acquiring an additional 2,624 shares during the last quarter. Privium Fund Management B.V. purchased a new stake in shares of Banco Santander-Chile during the third quarter valued at approximately $220,000. Finally, Barclays PLC bought a new stake in Banco Santander-Chile during the third quarter worth $658,000. Hedge funds and other institutional investors own 6.42% of the company's stock.

Banco Santander-Chile Stock Performance

BSAC traded up $0.07 during trading hours on Friday, hitting $18.15. The stock had a trading volume of 239,982 shares, compared to its average volume of 325,386. The stock has a market cap of $8.55 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.37 and a beta of 0.84. Banco Santander-Chile has a 1 year low of $16.89 and a 1 year high of $21.81. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 3.44. The company's fifty day simple moving average is $19.26 and its 200 day simple moving average is $18.97.

Banco Santander-Chile (NYSE:BSAC - Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The bank reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.01. The company had revenue of $621.60 million for the quarter, compared to analysts' expectations of $609.98 million. Banco Santander-Chile had a net margin of 9.58% and a return on equity of 9.62%. Equities analysts anticipate that Banco Santander-Chile will post 1.85 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Banco Santander-Chile from a "sell" rating to a "hold" rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $19.97.

About Banco Santander-Chile

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.