The Goldman Sachs Group Forecasts Strong Price Appreciation for Banco Santander Chile (NYSE:BSAC) Stock

Key Points

• Goldman Sachs raised its price target on Banco Santander Chile from $29 to $33, while keeping a sell rating on the stock. The new target implies only a slight downside from the previous close.
• Other analysts remain mixed but generally more constructive, with JPMorgan, Itaú BBA Securities, and Citigroup issuing upgrades; the overall consensus rating is now Moderate Buy with an average target price of $35.40.
• The bank recently reported $0.88 EPS for the quarter and revenue of $847.27 million, while its shares were trading around $33.12, near the company’s 52-week high of $37.72.

Banco Santander Chile (NYSE:BSAC - Get Free Report) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $29.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the bank's stock. The Goldman Sachs Group's target price would indicate a potential downside of 0.36% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Banco Santander Chile from a "neutral" rating to an "overweight" rating and set a $40.00 price objective for the company in a report on Monday, March 30th. Weiss Ratings restated a "hold (c)" rating on shares of Banco Santander Chile in a research report on Monday, April 20th. Wall Street Zen lowered shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Sunday. Itau BBA Securities raised Banco Santander Chile from a "market perform" rating to an "outperform" rating in a research report on Thursday, March 19th. Finally, Citigroup raised Banco Santander Chile from a "hold" rating to a "buy" rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.40.

Banco Santander Chile Price Performance

Shares of NYSE BSAC traded down $0.60 during mid-day trading on Thursday, hitting $33.12. 93,044 shares of the stock traded hands, compared to its average volume of 409,317. The company has a market cap of $15.60 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.82 and a beta of 0.52. Banco Santander Chile has a twelve month low of $22.77 and a twelve month high of $37.72. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $31.86 and a two-hundred day simple moving average of $33.04.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last issued its earnings results on Friday, July 10th. The bank reported $0.88 earnings per share (EPS) for the quarter. Banco Santander Chile had a return on equity of 21.00% and a net margin of 24.95%.The business had revenue of $847.27 million during the quarter. As a group, equities research analysts forecast that Banco Santander Chile will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

Several hedge funds and other institutional investors have recently bought and sold shares of BSAC. Hennion & Walsh Asset Management Inc. raised its position in shares of Banco Santander Chile by 36.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 46,599 shares of the bank's stock worth $1,535,000 after acquiring an additional 12,562 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Banco Santander Chile by 1.6% during the 1st quarter. Bank of America Corp DE now owns 298,791 shares of the bank's stock valued at $9,980,000 after purchasing an additional 4,663 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Banco Santander Chile by 63.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank's stock valued at $56,000 after purchasing an additional 653 shares in the last quarter. Quantinno Capital Management LP grew its stake in Banco Santander Chile by 11.4% during the first quarter. Quantinno Capital Management LP now owns 73,632 shares of the bank's stock worth $2,459,000 after purchasing an additional 7,537 shares during the period. Finally, First Trust Advisors LP acquired a new stake in Banco Santander Chile during the first quarter worth approximately $338,000. Institutional investors and hedge funds own 6.42% of the company's stock.

Banco Santander Chile Company Profile

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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