Banco Santander Chile (NYSE:BSAC) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Banco Santander Chile (NYSE:BSAC) have been assigned an average rating of “Reduce” from the six research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $27.6667.

BSAC has been the subject of several analyst reports. 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 boosted their price objective on shares of Banco Santander Chile from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, November 10th. Wall Street Zen cut Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group downgraded Banco Santander Chile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th.

Banco Santander Chile Trading Down 0.4%

Shares of Banco Santander Chile stock opened at $35.64 on Friday. Banco Santander Chile has a 52-week low of $20.77 and a 52-week high of $37.72. The stock has a market cap of $16.79 billion, a PE ratio of 15.49, a PEG ratio of 1.17 and a beta of 0.58. The firm has a 50-day moving average of $33.21 and a 200-day moving average of $28.99. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.84 and a current ratio of 1.84.

Banco Santander Chile (NYSE:BSAC) last issued its quarterly earnings results on Monday, February 9th. The bank reported $0.62 earnings per share (EPS) for the quarter. The business had revenue of $740.07 million during the quarter. Banco Santander Chile had a return on equity of 23.25% and a net margin of 24.57%. As a group, sell-side analysts forecast that Banco Santander Chile will post 2.07 EPS for the current year.

Institutional Investors Weigh In On Banco Santander Chile

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Simplex Trading LLC bought a new position in shares of Banco Santander Chile during the second quarter valued at $25,000. Raymond James Financial Inc. acquired a new position in Banco Santander Chile during the 2nd quarter worth about $33,000. EverSource Wealth Advisors LLC grew its position 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 valued at $39,000 after buying an additional 1,329 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Banco Santander Chile by 199.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock valued at $47,000 after buying an additional 1,007 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Banco Santander Chile by 739.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock worth $47,000 after acquiring an additional 1,309 shares during the last quarter. Institutional investors own 6.42% of the company’s stock.

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.