Banco Santander Chile (NYSE:BSAC) Upgraded at Bank of America
by Tristan Rich · The Markets DailyBank of America upgraded shares of Banco Santander Chile (NYSE:BSAC – Free Report) from an underperform rating to a neutral rating in a research report released on Wednesday morning, MarketBeat Ratings reports. Bank of America currently has $35.00 price objective on the bank’s stock.
Several other analysts have also recently weighed in on BSAC. Itau BBA Securities raised shares of Banco Santander Chile from a “market perform” rating to an “outperform” rating in a report on Thursday, March 19th. JPMorgan Chase & Co. upgraded shares of Banco Santander Chile from a “neutral” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Monday, March 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Chile in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, The Goldman Sachs Group downgraded shares of Banco Santander Chile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.50.
Get Our Latest Stock Analysis on BSAC
Banco Santander Chile Price Performance
Shares of NYSE BSAC opened at $33.18 on Wednesday. The stock’s 50-day moving average is $34.01 and its two-hundred day moving average is $31.08. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.77 and a quick ratio of 1.77. Banco Santander Chile has a 1-year low of $20.77 and a 1-year high of $37.72. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.00 and a beta of 0.55.
Banco Santander Chile (NYSE:BSAC – Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The bank reported $0.62 earnings per share (EPS) for the quarter. Banco Santander Chile had a return on equity of 21.51% and a net margin of 24.57%.The company had revenue of $740.07 million for the quarter. Analysts forecast that Banco Santander Chile will post 2.07 EPS for the current fiscal year.
Hedge Funds Weigh In On Banco Santander Chile
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSAC. JPMorgan Chase & Co. increased its stake in Banco Santander Chile by 0.6% in the third quarter. JPMorgan Chase & Co. now owns 3,113,470 shares of the bank’s stock valued at $82,507,000 after purchasing an additional 17,119 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Banco Santander Chile by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,599,117 shares of the bank’s stock valued at $49,749,000 after buying an additional 5,660 shares in the last quarter. USS Investment Management Ltd grew its position in shares of Banco Santander Chile by 45.5% in the 4th quarter. USS Investment Management Ltd now owns 1,561,544 shares of the bank’s stock valued at $48,603,000 after buying an additional 488,676 shares during the last quarter. INCA Investments LLC grew its position in shares of Banco Santander Chile by 48.8% in the 4th quarter. INCA Investments LLC now owns 1,064,274 shares of the bank’s stock valued at $33,110,000 after buying an additional 349,082 shares during the last quarter. Finally, TT International Asset Management LTD acquired a new stake in Banco Santander Chile during the 3rd quarter worth $24,685,000. 6.42% of the stock is owned by institutional investors and hedge funds.
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.