Banco Santander-Chile (NYSE:BSAC) Upgraded at Berenberg Bank

Banco Santander-Chile (NYSE:BSAC) was upgraded by research analysts at Berenberg Bank to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

A number of other brokerages have also issued reports on BSAC. StockNews.com lowered shares of Banco Santander-Chile from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Itau BBA Securities raised shares of Banco Santander-Chile from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.48.

Banco Santander-Chile Stock Performance

Shares of Banco Santander-Chile stock opened at $20.08 on Tuesday. The firm has a market cap of $9.46 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.41 and a beta of 0.86. The firm’s 50-day simple moving average is $19.40 and its 200-day simple moving average is $19.21. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.86 and a current ratio of 1.86. Banco Santander-Chile has a 1 year low of $16.89 and a 1 year high of $21.52.

Banco Santander-Chile (NYSE:BSAC) last issued its earnings results on Tuesday, April 30th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The company had revenue of $524.08 million during the quarter, compared to analyst estimates of $544.26 million. Banco Santander-Chile had a net margin of 9.58% and a return on equity of 10.06%. Equities analysts forecast that Banco Santander-Chile will post 1.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Banco Santander-Chile by 0.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,826,769 shares of the bank’s stock worth $53,228,000 after purchasing an additional 23,000 shares during the last quarter. abrdn plc lifted its stake in shares of Banco Santander-Chile by 0.4% in the 4th quarter. abrdn plc now owns 730,572 shares of the bank’s stock worth $14,239,000 after acquiring an additional 2,987 shares during the period. AGF Management Ltd. acquired a new stake in shares of Banco Santander-Chile in the 4th quarter worth approximately $7,991,000. Sei Investments Co. lifted its stake in shares of Banco Santander-Chile by 8.4% in the 1st quarter. Sei Investments Co. now owns 327,191 shares of the bank’s stock worth $6,488,000 after acquiring an additional 25,237 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Banco Santander-Chile by 7.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 268,013 shares of the bank’s stock worth $5,315,000 after acquiring an additional 18,789 shares during the period. Institutional investors 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.