Banco Santander-Chile (BSAC) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Banco Santander-Chile (NYSE:BSAC) from a sell rating to a hold rating in a report released on Tuesday.

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 analysts also recently weighed in on the stock. ValuEngine downgraded shares of Banco Santander-Chile from a buy rating to a hold rating in a report on Wednesday, August 8th. JPMorgan Chase & Co. raised shares of Banco Santander-Chile from a neutral rating to a buy rating and decreased their price target for the company from $35.00 to $34.00 in a research report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $34.33.

BSAC stock opened at $30.55 on Tuesday. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.21 and a beta of 0.87. The company has a debt-to-equity ratio of 3.19, a current ratio of 1.76 and a quick ratio of 1.73. Banco Santander-Chile has a 12 month low of $26.41 and a 12 month high of $35.09.

Banco Santander-Chile (NYSE:BSAC) last released its quarterly earnings data on Wednesday, October 31st. The bank reported $0.50 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.50. The company had revenue of $591.48 million during the quarter, compared to the consensus estimate of $712.84 million. Banco Santander-Chile had a net margin of 22.48% and a return on equity of 18.20%. On average, sell-side analysts expect that Banco Santander-Chile will post 2.07 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Banco Santander-Chile by 13.4% during the 3rd quarter. BlackRock Inc. now owns 1,255,310 shares of the bank’s stock worth $40,144,000 after purchasing an additional 148,171 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Banco Santander-Chile by 46.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 26,154 shares of the bank’s stock worth $836,000 after purchasing an additional 8,276 shares during the last quarter. Commonwealth Bank of Australia lifted its position in shares of Banco Santander-Chile by 3.3% during the 3rd quarter. Commonwealth Bank of Australia now owns 55,822 shares of the bank’s stock worth $1,782,000 after purchasing an additional 1,800 shares during the last quarter. Northern Trust Corp lifted its position in shares of Banco Santander-Chile by 1.1% during the 2nd quarter. Northern Trust Corp now owns 1,866,408 shares of the bank’s stock worth $58,661,000 after purchasing an additional 19,994 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Banco Santander-Chile by 53.8% during the 2nd quarter. Schroder Investment Management Group now owns 4,078,000 shares of the bank’s stock worth $128,334,000 after purchasing an additional 1,425,860 shares during the last quarter. 14.24% of the stock is owned by institutional investors and hedge funds.

About Banco Santander-Chile

Banco Santander-Chile provides commercial and retail banking products and services in Chile. It operates through Retail Banking, Middle-Market, and Global Corporate Banking segments. The company offers checking accounts and savings products; consumer, auto, commercial, mortgage, and government-guaranteed loans; credit and debit cards; and Chilean peso and foreign currency denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines.

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