Zacks Investment Research Upgrades Banco Santander-Chile (BSAC) to Buy
Zacks Investment Research upgraded shares of Banco Santander-Chile (NASDAQ:BSAC) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $27.00 price target on the bank’s stock.
According to Zacks, “Banco Santiago is the largest bank in Chile, in terms of assets with Ch$4,088 billion (approximately US$9.86 billion ) as of March 31, 1997. The bank is the result of the merger of two of the largest institutions in the Chilean banking system, Banco O’Higgins S.A., mainly a corporate bank, and Banco de Santiago S.A., mainly focused in consumer and middle-market lending. “
A number of other equities research analysts have also issued reports on BSAC. Credit Suisse Group restated a neutral rating and issued a $26.00 target price (up previously from $25.00) on shares of Banco Santander-Chile in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) upped their target price on shares of Banco Santander-Chile from $23.00 to $26.00 and gave the company a neutral rating in a research note on Tuesday, May 2nd. Finally, BidaskClub lowered shares of Banco Santander-Chile from a buy rating to a hold rating in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $24.75.
Banco Santander-Chile (NASDAQ BSAC) opened at 25.39 on Tuesday. Banco Santander-Chile has a one year low of $17.83 and a one year high of $25.58. The firm’s 50 day moving average price is $24.41 and its 200 day moving average price is $23.22. The stock has a market cap of $11.96 billion and a price-to-earnings ratio of 15.87.
Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Banco Santander-Chile during the fourth quarter worth $15,787,000. Comerica Bank increased its stake in shares of Banco Santander-Chile by 12.7% in the fourth quarter. Comerica Bank now owns 26,703 shares of the bank’s stock worth $583,000 after buying an additional 3,010 shares in the last quarter. Axiom International Investors LLC DE increased its stake in shares of Banco Santander-Chile by 0.4% in the fourth quarter. Axiom International Investors LLC DE now owns 46,310 shares of the bank’s stock worth $1,013,000 after buying an additional 182 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of Banco Santander-Chile by 2.7% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 90,400 shares of the bank’s stock worth $1,977,000 after buying an additional 2,400 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Banco Santander-Chile during the fourth quarter worth $298,000.
About Banco Santander-Chile
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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