Banco Santander-Chile (NYSE:BSAC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Banco Santiago is the largest bank in Chile, in terms of assets with Ch$4,088 billion (approximately US$9.86 billion ) as of March 31, 1997. The bank is the result of the merger of two of the largest institutions in the Chilean banking system, Banco O’Higgins S.A., mainly a corporate bank, and Banco de Santiago S.A., mainly focused in consumer and middle-market lending. “
A number of other research firms have also recently issued reports on BSAC. ValuEngine cut Banco Santander-Chile from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. JPMorgan Chase & Co. upgraded Banco Santander-Chile from a “neutral” rating to a “buy” rating and cut their target price for the company from $35.00 to $34.00 in a research note on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Banco Santander-Chile has a consensus rating of “Hold” and a consensus target price of $34.33.
Banco Santander-Chile stock traded up $0.01 during mid-day trading on Tuesday, reaching $30.95. The company’s stock had a trading volume of 268,385 shares, compared to its average volume of 363,004. The company has a market cap of $14.77 billion, a PE ratio of 15.95, a P/E/G ratio of 1.22 and a beta of 0.87. The company has a debt-to-equity ratio of 3.19, a current ratio of 1.76 and a quick ratio of 1.73. Banco Santander-Chile has a twelve month low of $26.41 and a twelve month high of $35.09.
Banco Santander-Chile (NYSE:BSAC) last posted its earnings results on Wednesday, October 31st. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $591.48 million for the quarter, compared to analysts’ expectations of $712.84 million. Banco Santander-Chile had a return on equity of 18.20% and a net margin of 22.48%. Equities research analysts anticipate that Banco Santander-Chile will post 2.07 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC lifted its stake in Banco Santander-Chile by 473.3% in the second quarter. Jane Street Group LLC now owns 35,709 shares of the bank’s stock valued at $1,120,000 after buying an additional 29,480 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Banco Santander-Chile by 4.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,608 shares of the bank’s stock valued at $3,916,000 after purchasing an additional 4,840 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Banco Santander-Chile during the second quarter valued at about $317,000. Schroder Investment Management Group raised its stake in shares of Banco Santander-Chile by 53.8% during the second quarter. Schroder Investment Management Group now owns 4,078,000 shares of the bank’s stock valued at $128,334,000 after purchasing an additional 1,425,860 shares in the last quarter. Finally, NS Partners Ltd raised its stake in shares of Banco Santander-Chile by 72.6% during the second quarter. NS Partners Ltd now owns 183,287 shares of the bank’s stock valued at $5,761,000 after purchasing an additional 77,100 shares in the last quarter. Institutional investors own 14.24% of the company’s stock.
Banco Santander-Chile Company Profile
Banco Santander-Chile provides commercial and retail banking products and services in Chile. It operates through Retail Banking, Middle-Market, and Global Corporate Banking segments. The company offers checking accounts and savings products; consumer, auto, commercial, mortgage, and government-guaranteed loans; credit and debit cards; and Chilean peso and foreign currency denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines.
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