Banco Santander Chile (NYSE:BSAC) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Banco Santander Chile (NYSE:BSAC) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

BSAC has been the subject of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Chile in a research report on Friday, July 17th. Wall Street Zen lowered Banco Santander Chile from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. The Goldman Sachs Group increased their price objective 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. Bank of America raised Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a research note on Wednesday, April 1st. Finally, UBS Group cut their price target on Banco Santander Chile from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.40.

Banco Santander Chile Stock Up 2.4%

Shares of BSAC opened at $35.02 on Wednesday. The stock has a market capitalization of $16.50 billion, a PE ratio of 13.37, a P/E/G ratio of 0.80 and a beta of 0.52. Banco Santander Chile has a 1 year low of $22.77 and a 1 year high of $37.72. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.48 and a current ratio of 0.48. The company’s 50-day simple moving average is $32.59 and its 200-day simple moving average is $33.20.

Banco Santander Chile (NYSE:BSAC) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $0.87 EPS for the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 23.14%. The business had revenue of $905.26 million during the quarter. Analysts forecast that Banco Santander Chile will post 2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Banco Santander Chile during the 2nd quarter worth about $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,329 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Banco Santander Chile by 199.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock worth $47,000 after acquiring an additional 1,007 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Banco Santander Chile by 739.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock worth $47,000 after acquiring an additional 1,309 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Banco Santander Chile by 703.0% during the 4th quarter. Barclays PLC now owns 2,666 shares of the bank’s stock worth $83,000 after acquiring an additional 2,334 shares in the last quarter. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Banco Santander Chile Company Profile

Banco Santander Chile (NYSE:BSAC) is one of the leading financial institutions in Chile and a key component of the global Santander Group. The bank offers a comprehensive range of banking and financial services, including retail and commercial lending, deposit accounts, credit cards, wealth management, insurance products and corporate banking solutions. Headquartered in Santiago, it operates an extensive network of branches, ATMs and digital platforms to serve individual customers, small and medium-sized enterprises and large corporations across the country.

Originally founded as Banco de Santiago in the late 1970s, the institution became part of the Santander Group following the privatization wave in Chile during the late 1980s.