Banco Santander Chile (NYSE:BSAC) Announces Earnings Results

Banco Santander Chile (NYSE:BSAC) released its earnings results on Friday. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.13), Zacks reports. Banco Santander Chile had a return on equity of 22.94% and a net margin of 27.04%. The business had revenue of $547.42 million during the quarter, compared to analysts’ expectations of $765.05 million.

Banco Santander Chile Trading Down 3.2%

BSAC stock traded down $1.00 during midday trading on Friday, reaching $30.49. 673,877 shares of the company’s stock traded hands, compared to its average volume of 492,790. Banco Santander Chile has a fifty-two week low of $28.27 and a fifty-two week high of $37.72. The business has a 50-day moving average price of $33.64 and a two-hundred day moving average price of $33.44. The company has a market capitalization of $14.36 billion, a P/E ratio of 11.64, a PEG ratio of 0.78 and a beta of 0.49. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.72 and a quick ratio of 0.48.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BSAC shares. Zacks Research lowered Banco Santander Chile from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen raised shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. The Goldman Sachs Group upped their price objective on Banco Santander Chile from $29.00 to $33.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. dropped their target price on shares of Banco Santander Chile from $43.00 to $39.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised shares of Banco Santander Chile from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.20.

Banco Santander Chile Company Profile

Banco Santander Chile (NYSE: BSAC) is a commercial bank headquartered in Santiago, Chile. It provides banking and financial services to individuals, small and midsize businesses, corporations, and institutional clients throughout Chile. The bank operates as part of the global Santander Group, headquartered in Spain.

Its products and services include checking and savings accounts, credit and debit cards, consumer and residential mortgage loans, commercial lending, working-capital financing, and other forms of credit.