Sumitomo Mitsui Asset Management Company LTD Cuts Stake in Banco Santander-Chile (NASDAQ:BSAC)
Sumitomo Mitsui Asset Management Company LTD cut its position in Banco Santander-Chile (NASDAQ:BSAC) by 18.9% during the second quarter, Holdings Channel reports. The institutional investor owned 22,882 shares of the bank’s stock after selling 5,318 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Banco Santander-Chile were worth $581,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in BSAC. JPMorgan Chase & Co. increased its stake in shares of Banco Santander-Chile by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 9,924,349 shares of the bank’s stock worth $248,904,000 after buying an additional 940,607 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Banco Santander-Chile by 11.1% in the first quarter. AQR Capital Management LLC now owns 3,001,448 shares of the bank’s stock worth $75,276,000 after buying an additional 299,298 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Banco Santander-Chile by 10.2% in the first quarter. Vanguard Group Inc. now owns 1,923,488 shares of the bank’s stock worth $48,241,000 after buying an additional 178,061 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Banco Santander-Chile by 30.1% in the first quarter. Renaissance Technologies LLC now owns 1,624,527 shares of the bank’s stock worth $40,743,000 after buying an additional 375,600 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Banco Santander-Chile by 87.8% in the first quarter. Wellington Management Group LLP now owns 781,012 shares of the bank’s stock worth $19,587,000 after buying an additional 365,041 shares in the last quarter.
Shares of Banco Santander-Chile (NASDAQ:BSAC) opened at 29.61 on Thursday. The company has a market cap of $13.95 billion and a P/E ratio of 18.51. The firm has a 50 day moving average price of $26.65 and a 200-day moving average price of $24.43. Banco Santander-Chile has a 12 month low of $20.22 and a 12 month high of $30.02.
Banco Santander-Chile (NASDAQ:BSAC) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.05. The business had revenue of $704.02 million during the quarter, compared to analysts’ expectations of $458.92 million. Banco Santander-Chile had a return on equity of 20.58% and a net margin of 29.10%. During the same period in the previous year, the company posted $0.40 earnings per share. Analysts anticipate that Banco Santander-Chile will post $1.77 earnings per share for the current fiscal year.
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BSAC has been the subject of a number of research reports. Credit Suisse Group reiterated a “neutral” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Banco Santander-Chile in a research report on Wednesday, April 19th. Zacks Investment Research downgraded Banco Santander-Chile from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, BidaskClub upgraded Banco Santander-Chile from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.25.
Banco Santander-Chile Company Profile
Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank’s segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations.
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