Banco Santander Chile (NYSE:BSAC) Posts Earnings Results

Banco Santander Chile (NYSE:BSAC) issued its earnings results on Tuesday, October 13th. The bank reported $0.52 earnings per share for the quarter, FiscalAI reports. Banco Santander Chile had a net margin of 27.04% and a return on equity of 22.94%. The firm had revenue of $720.33 million for the quarter.

Banco Santander Chile Price Performance

Shares of NYSE:BSAC opened at $31.52 on Friday. Banco Santander Chile has a 12 month low of $27.96 and a 12 month high of $37.72. The firm has a market capitalization of $14.85 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.78 and a beta of 0.49. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.72 and a quick ratio of 0.48. The company’s fifty day moving average price is $33.72 and its 200 day moving average price is $33.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BSAC shares. Wall Street Zen upgraded shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Banco Santander Chile from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. The Goldman Sachs Group increased their target price on Banco Santander Chile from $29.00 to $33.00 and gave the company a “sell” rating in a report on Thursday, July 16th. Zacks Research cut Banco Santander Chile from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, JPMorgan Chase & Co. decreased their price target on Banco Santander Chile from $43.00 to $39.00 and set an “overweight” rating for the company in a report on Tuesday, October 6th. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.20.

Hedge Funds Weigh In On Banco Santander Chile

Several hedge funds have recently made changes to their positions in BSAC. Integrated Wealth Concepts LLC acquired a new stake in shares of Banco Santander Chile in the second quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its position in shares of Banco Santander Chile by 63.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank’s stock worth $56,000 after acquiring an additional 653 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Banco Santander Chile during the third quarter worth approximately $78,000. Public Employees Retirement System of Ohio acquired a new position in shares of Banco Santander Chile in the 2nd quarter valued at $90,000. Finally, Parallel Advisors LLC increased its holdings in shares of Banco Santander Chile by 73.6% in the 1st quarter. Parallel Advisors LLC now owns 4,895 shares of the bank’s stock valued at $163,000 after acquiring an additional 2,076 shares during the period. Hedge funds and other institutional investors own 6.42% of the company’s stock.

About Banco Santander Chile

Banco Santander Chile (NYSE: BSAC) is a commercial bank headquartered in Santiago, Chile. It provides banking and financial services to individuals, small and midsize businesses, corporations, and institutional clients throughout Chile. The bank operates as part of the global Santander Group, headquartered in Spain.

Its products and services include checking and savings accounts, credit and debit cards, consumer and residential mortgage loans, commercial lending, working-capital financing, and other forms of credit.