Banco Santander Chile (NYSE:BSAC) Rating Lowered to “Strong Sell” at The Goldman Sachs Group

Banco Santander Chile (NYSE:BSAC) was downgraded by equities researchers at The Goldman Sachs Group from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on BSAC. Citigroup cut shares of Banco Santander Chile from a “buy” rating to a “hold” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their target price on shares of Banco Santander Chile from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. UBS Group raised their price target on Banco Santander Chile from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Banco Santander Chile from a “hold” rating to a “sell” rating in a research report on Tuesday, December 30th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Banco Santander Chile has an average rating of “Reduce” and a consensus price target of $27.67.

Banco Santander Chile Stock Down 1.1%

Shares of NYSE BSAC opened at $32.93 on Tuesday. The business has a 50-day moving average price of $30.56 and a 200 day moving average price of $27.18. The stock has a market cap of $15.68 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.56. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.51. Banco Santander Chile has a 52-week low of $18.39 and a 52-week high of $33.49.

Banco Santander Chile (NYSE:BSAC) last issued its quarterly earnings data on Monday, November 17th. The bank reported $0.99 earnings per share for the quarter. The company had revenue of $740.10 million during the quarter. Banco Santander Chile had a return on equity of 22.18% and a net margin of 24.74%. Equities research analysts forecast that Banco Santander Chile will post 2.07 earnings per share for the current year.

Hedge Funds Weigh In On Banco Santander Chile

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cardinal Capital Management raised its stake in shares of Banco Santander Chile by 0.9% during the 2nd quarter. Cardinal Capital Management now owns 99,974 shares of the bank’s stock worth $2,521,000 after buying an additional 875 shares in the last quarter. Simplex Trading LLC acquired a new position in Banco Santander Chile during the second quarter worth $25,000. PNC Financial Services Group Inc. raised its position in Banco Santander Chile by 9.9% in the third quarter. PNC Financial Services Group Inc. now owns 11,470 shares of the bank’s stock worth $304,000 after acquiring an additional 1,037 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in shares of Banco Santander Chile by 10.7% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 11,625 shares of the bank’s stock worth $307,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Banco Santander Chile by 5.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,789 shares of the bank’s stock worth $600,000 after purchasing an additional 1,275 shares during the period. Institutional investors and hedge funds 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.