Banco Santander Chile $BSAC Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Banco Santander Chile (NYSE:BSAC) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,149,112 shares of the bank’s stock after selling 136,504 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Banco Santander Chile were worth $38,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSAC. Deprince Race & Zollo Inc. acquired a new stake in Banco Santander Chile during the 4th quarter worth $3,369,000. INCA Investments LLC lifted its position in Banco Santander Chile by 18.8% in the first quarter. INCA Investments LLC now owns 1,263,892 shares of the bank’s stock valued at $42,214,000 after acquiring an additional 199,618 shares during the last quarter. UBS Group AG boosted its stake in Banco Santander Chile by 69.4% in the fourth quarter. UBS Group AG now owns 78,855 shares of the bank’s stock valued at $2,453,000 after acquiring an additional 32,297 shares in the last quarter. Banco BTG Pactual S.A. acquired a new position in Banco Santander Chile in the fourth quarter valued at $809,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Banco Santander Chile by 13.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,278 shares of the bank’s stock worth $4,240,000 after purchasing an additional 16,326 shares during the last quarter. 6.42% of the stock is owned by institutional investors and hedge funds.

Banco Santander Chile Price Performance

Shares of BSAC opened at $32.88 on Monday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.48 and a current ratio of 0.48. Banco Santander Chile has a fifty-two week low of $22.77 and a fifty-two week high of $37.72. The firm has a 50-day simple moving average of $31.96 and a 200-day simple moving average of $33.06. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52.

Banco Santander Chile (NYSE:BSAC) last issued its quarterly 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%. On average, equities research analysts anticipate that Banco Santander Chile will post 2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BSAC. UBS Group cut their target price on Banco Santander Chile from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Bank of America upgraded Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a research note on Wednesday, April 1st. Wall Street Zen lowered Banco Santander Chile from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Erste Group Bank upgraded Banco Santander Chile to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Banco Santander Chile presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.40.

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.