PNC Financial Services Group Inc. Grows Stock Holdings in Banco Santander Chile $BSAC

PNC Financial Services Group Inc. lifted its stake in shares of Banco Santander Chile (NYSE:BSAC) by 26.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,433 shares of the bank’s stock after purchasing an additional 2,165 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Banco Santander Chile were worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its position in Banco Santander Chile by 462,111.1% during the second quarter. SBI Securities Co. Ltd. now owns 124,797 shares of the bank’s stock worth $3,147,000 after buying an additional 124,770 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Banco Santander Chile by 6.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 331,088 shares of the bank’s stock worth $8,350,000 after acquiring an additional 19,811 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Banco Santander Chile during the 2nd quarter worth $202,000. Savant Capital LLC acquired a new position in shares of Banco Santander Chile during the 2nd quarter valued at about $226,000. Finally, Simplex Trading LLC purchased a new stake in shares of Banco Santander Chile in the second quarter valued at about $25,000. Institutional investors and hedge funds own 6.42% of the company’s stock.

Banco Santander Chile Stock Performance

NYSE:BSAC opened at $29.92 on Thursday. Banco Santander Chile has a fifty-two week low of $18.19 and a fifty-two week high of $30.75. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50 day moving average price of $27.94 and a 200 day moving average price of $25.65. The stock has a market capitalization of $14.10 billion, a P/E ratio of 12.90, a PEG ratio of 0.74 and a beta of 0.74.

Banco Santander Chile (NYSE:BSAC) last released its quarterly earnings results on Thursday, October 30th. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). Banco Santander Chile had a return on equity of 22.18% and a net margin of 24.74%.The firm had revenue of $581.56 million for the quarter, compared to analyst estimates of $732.50 million. Equities research analysts forecast that Banco Santander Chile will post 2.07 EPS for the current year.

Wall Street Analyst Weigh In

BSAC has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Banco Santander Chile from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. UBS Group lifted their price target on shares of Banco Santander Chile from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, November 10th. Citigroup cut Banco Santander Chile from a “buy” rating to a “hold” rating in a report on Friday, November 7th. Finally, Wall Street Zen cut Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Banco Santander Chile has a consensus rating of “Reduce” and a consensus price target of $27.67.

Banco Santander Chile Company Profile

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