Banco Santander Chile (NYSE:BSAC) Rating Increased to Hold at Wall Street Zen

Banco Santander Chile (NYSE:BSAC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts have also recently weighed in on BSAC. Citigroup cut shares of Banco Santander Chile from a “buy” rating to a “hold” rating in a research report on Friday, November 7th. UBS Group increased their price objective on shares of Banco Santander Chile from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. lifted their target price on shares of Banco Santander Chile from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $27.67.

Banco Santander Chile Stock Up 1.7%

BSAC stock opened at $30.73 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.51. The firm has a 50-day moving average of $29.28 and a two-hundred day moving average of $26.31. Banco Santander Chile has a 12 month low of $18.19 and a 12 month high of $31.37. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.77 and a beta of 0.58.

Banco Santander Chile (NYSE:BSAC) last announced its quarterly earnings results on Monday, November 17th. The bank reported $0.99 earnings per share for the quarter. The firm had revenue of $740.10 million for the quarter. Banco Santander Chile had a net margin of 24.74% and a return on equity of 22.18%. As a group, analysts forecast that Banco Santander Chile will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Simplex Trading LLC purchased a new stake in shares of Banco Santander Chile during the 2nd quarter worth $25,000. Brooklyn Investment Group lifted its position in shares of Banco Santander Chile by 54,450.0% during the 1st quarter. Brooklyn Investment Group now owns 1,091 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,089 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Banco Santander Chile during the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock worth $39,000 after acquiring an additional 1,329 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Banco Santander Chile by 380.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,532 shares of the bank’s stock valued at $89,000 after purchasing an additional 2,797 shares in the last quarter. 6.42% of the stock is owned by hedge funds and other institutional investors.

About Banco Santander Chile

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.