Banco Santander-Chile (BSAC) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Banco Santander-Chile (NASDAQ:BSAC) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $29.00 price objective on the bank’s stock.

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. “

Several other research analysts have also issued reports on BSAC. Credit Suisse Group reaffirmed a neutral rating and set a $26.00 target price (up from $25.00) on shares of Banco Santander-Chile in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) upped their target price on Banco Santander-Chile from $23.00 to $26.00 and gave the company a neutral rating in a research report on Tuesday, May 2nd. Finally, BidaskClub lowered Banco Santander-Chile from a buy rating to a hold rating in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Banco Santander-Chile currently has a consensus rating of Hold and an average target price of $25.25.

Shares of Banco Santander-Chile (NASDAQ:BSAC) traded down 0.19% on Tuesday, reaching $26.03. The company’s stock had a trading volume of 63,885 shares. The firm has a 50 day moving average price of $25.29 and a 200-day moving average price of $23.78. Banco Santander-Chile has a 12-month low of $20.05 and a 12-month high of $26.72. The stock has a market cap of $12.26 billion and a PE ratio of 16.27.

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A number of hedge funds have recently bought and sold shares of BSAC. Aperio Group LLC increased its stake in Banco Santander-Chile by 13.3% in the second quarter. Aperio Group LLC now owns 79,963 shares of the bank’s stock valued at $2,032,000 after buying an additional 9,410 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of Banco Santander-Chile by 19.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 307,062 shares of the bank’s stock worth $7,803,000 after buying an additional 50,266 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Banco Santander-Chile by 2.5% in the second quarter. Capstone Asset Management Co. now owns 363,011 shares of the bank’s stock worth $9,224,000 after buying an additional 8,979 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Banco Santander-Chile by 17.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 12,266 shares of the bank’s stock worth $307,000 after buying an additional 1,824 shares during the last quarter. Finally, Summit Global Investments bought a new stake in shares of Banco Santander-Chile during the first quarter worth approximately $563,000.

Banco Santander-Chile Company Profile

Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank’s segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations.

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