Banco Santander Chile (NYSE:BSAC) Receives $35.40 Average PT from Brokerages

Shares of Banco Santander Chile (NYSE:BSAC) have been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $35.40.

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday. Erste Group Bank raised Banco Santander Chile to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a report on Friday, July 17th. Citigroup upgraded Banco Santander Chile from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. Finally, Zacks Research raised Banco Santander Chile from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th.

Banco Santander Chile Trading Up 0.7%

BSAC opened at $34.52 on Friday. Banco Santander Chile has a fifty-two week low of $23.31 and a fifty-two week high of $37.72. 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 firm has a market capitalization of $16.26 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.86 and a beta of 0.52. The company’s 50 day moving average price is $33.41 and its two-hundred day moving average price is $33.30.

Banco Santander Chile (NYSE:BSAC) last announced its quarterly earnings results on Tuesday, June 30th. The bank reported $0.87 earnings per share (EPS) for the quarter. The firm had revenue of $905.26 million during the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 22.94%. As a group, research analysts predict that Banco Santander Chile will post 2.92 earnings per share for the current year.

Institutional Trading of Banco Santander Chile

Several institutional investors have recently added to or reduced their stakes in BSAC. Sequoia Financial Advisors LLC lifted its position in shares of Banco Santander Chile by 8.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,645 shares of the bank’s stock worth $255,000 after purchasing an additional 618 shares during the period. EverSource Wealth Advisors LLC increased 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 buying an additional 653 shares during the period. Wells Fargo & Company MN increased its position in shares of Banco Santander Chile by 22.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,949 shares of the bank’s stock worth $123,000 after buying an additional 731 shares during the period. PNC Financial Services Group Inc. raised its stake in Banco Santander Chile by 6.9% during the first quarter. PNC Financial Services Group Inc. now owns 11,629 shares of the bank’s stock worth $388,000 after buying an additional 755 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Banco Santander Chile by 29.1% during the fourth quarter. Advisors Asset Management Inc. now owns 3,398 shares of the bank’s stock worth $106,000 after buying an additional 766 shares during the last quarter. 6.42% of the stock is currently owned by institutional investors.

About Banco Santander Chile

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.