Banco Santander Chile (NYSE:BSAC) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Banco Santander Chile (NYSE:BSAC) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Banco Santander Chile from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. UBS Group cut their price target on shares of 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. Wall Street Zen upgraded Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Citigroup raised Banco Santander Chile from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. Finally, Erste Group Bank raised Banco Santander Chile to a “strong-buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four 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 “Hold” and a consensus target price of $35.40.

Banco Santander Chile Stock Performance

NYSE:BSAC opened at $35.12 on Thursday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.48 and a current ratio of 1.72. Banco Santander Chile has a fifty-two week low of $23.71 and a fifty-two week high of $37.72. The company has a 50 day simple moving average of $33.98 and a two-hundred day simple moving average of $33.21. The company has a market capitalization of $16.55 billion, a PE ratio of 13.40, a P/E/G ratio of 0.84 and a beta of 0.52.

Banco Santander Chile (NYSE:BSAC) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.87 earnings per share (EPS) for the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 22.94%. The firm had revenue of $905.26 million for the quarter. Research analysts anticipate that Banco Santander Chile will post 2.99 earnings per share for the current year.

Institutional Trading of Banco Santander Chile

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Banco Santander Chile during the second quarter worth $33,000. EverSource Wealth Advisors LLC grew its holdings in Banco Santander Chile by 577.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock worth $39,000 after purchasing an additional 1,329 shares during the period. Farther Finance Advisors LLC increased its stake in 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 purchasing an additional 1,007 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Banco Santander Chile by 739.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Banco Santander Chile by 703.0% during the fourth quarter. Barclays PLC now owns 2,666 shares of the bank’s stock valued at $83,000 after purchasing an additional 2,334 shares during the period. Institutional investors own 6.42% of the company’s stock.

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.