Banco Santander Chile (NYSE:BSAC) Announces Quarterly Earnings Results

Banco Santander Chile (NYSE:BSAC) issued its quarterly earnings data on Tuesday. The bank reported $0.44 earnings per share (EPS) for the quarter, FiscalAI reports. Banco Santander Chile had a return on equity of 22.94% and a net margin of 27.04%. The company had revenue of $624.15 million during the quarter.

Banco Santander Chile Trading Up 0.1%

Shares of NYSE:BSAC opened at $32.22 on Wednesday. The company has a market capitalization of $15.18 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.79 and a beta of 0.49. Banco Santander Chile has a 1 year low of $26.42 and a 1 year 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 business’s 50 day simple moving average is $34.38 and its 200 day simple moving average is $33.30.

Hedge Funds Weigh In On Banco Santander Chile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S bought a new position in shares of Banco Santander Chile in the second quarter worth $1,414,000. ABS Direct Equity Fund LLC acquired a new position in Banco Santander Chile in the second quarter valued at about $1,317,000. SPX Gestao de Recursos Ltda bought a new stake in Banco Santander Chile during the first quarter worth about $1,886,000. Dimensional Fund Advisors LP lifted its position in Banco Santander Chile by 9.8% during the first quarter. Dimensional Fund Advisors LP now owns 643,160 shares of the bank’s stock worth $21,461,000 after purchasing an additional 57,400 shares during the period. Finally, INCA Investments LLC lifted its position in Banco Santander Chile by 18.8% during the first quarter. INCA Investments LLC now owns 1,263,892 shares of the bank’s stock worth $42,214,000 after purchasing an additional 199,618 shares during the period. 6.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BSAC shares. Weiss Ratings upgraded Banco Santander Chile from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Citigroup raised Banco Santander Chile from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. The Goldman Sachs Group boosted their price target on Banco Santander Chile from $29.00 to $33.00 and gave the company a “sell” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. decreased their price objective on Banco Santander Chile from $43.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Finally, Wall Street Zen raised Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Banco Santander Chile has an average rating of “Hold” and an average target price of $35.20.

About Banco Santander Chile

Banco Santander Chile is a Chilean financial institution and a subsidiary of Spain-based Banco Santander. Listed on the New York Stock Exchange under the symbol BSAC, the bank provides banking and financial services to individuals, small and medium-sized businesses, middle-market companies, and large corporations throughout Chile.

Its principal offerings include consumer and commercial loans, mortgages, checking and savings accounts, credit and debit cards, insurance-related products, investment and wealth-management services, and payment and cash-management solutions.