Banco Santander Chile (NYSE:BSAC) Downgraded by Citigroup to Hold

Citigroup lowered shares of Banco Santander Chile (NYSE:BSAC) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Marketbeat reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on Banco Santander Chile from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Banco Santander Chile presently has a consensus rating of “Reduce” and a consensus target price of $26.00.

Banco Santander Chile Trading Up 1.5%

Shares of BSAC traded up $0.45 during trading hours on Friday, hitting $29.63. 641,958 shares of the stock traded hands, compared to its average volume of 286,811. The business has a fifty day moving average of $26.85 and a 200-day moving average of $25.15. The firm has a market capitalization of $13.96 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.73 and a beta of 0.74. Banco Santander Chile has a 1-year low of $18.19 and a 1-year high of $30.18. The company has a current ratio of 1.87, a quick ratio of 1.77 and a debt-to-equity ratio of 2.51.

Banco Santander Chile (NYSE:BSAC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $732.50 million. Analysts expect that Banco Santander Chile will post 2.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Banco Santander Chile by 0.6% during the third quarter. JPMorgan Chase & Co. now owns 3,113,470 shares of the bank’s stock worth $82,507,000 after acquiring an additional 17,119 shares during the period. Candriam S.C.A. bought a new position in Banco Santander Chile during the 1st quarter worth about $25,116,000. TT International Asset Management LTD acquired a new stake in shares of Banco Santander Chile in the 3rd quarter valued at about $24,685,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Banco Santander Chile by 200.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 832,647 shares of the bank’s stock valued at $22,065,000 after purchasing an additional 555,919 shares in the last quarter. Finally, RWC Asset Management LLP boosted its position in shares of Banco Santander Chile by 45.3% during the first quarter. RWC Asset Management LLP now owns 826,754 shares of the bank’s stock worth $18,850,000 after buying an additional 257,895 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, 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.