Banco Santander Chile (NYSE:BSAC) Price Target Lowered to $31.00 at UBS Group

Banco Santander Chile (NYSE:BSAC) had its price objective decreased by stock analysts at UBS Group from $32.00 to $31.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. UBS Group’s target price indicates a potential upside of 0.06% from the company’s current price.

Several other analysts also recently commented on the company. Wall Street Zen downgraded Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Chile in a report on Monday, April 20th. Morgan Stanley set a $38.00 price objective on shares of Banco Santander Chile in a research report on Wednesday, March 11th. JPMorgan Chase & Co. upgraded Banco Santander Chile from a “neutral” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Monday, March 30th. Finally, Itau BBA Securities raised Banco Santander Chile from a “market perform” rating to an “outperform” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.00.

Banco Santander Chile Stock Down 1.7%

Banco Santander Chile stock traded down $0.53 during midday trading on Friday, reaching $30.98. The company’s stock had a trading volume of 286,399 shares, compared to its average volume of 418,055. The company has a market cap of $14.60 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.74 and a beta of 0.53. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.26. The business has a 50-day simple moving average of $32.48 and a 200-day simple moving average of $32.42. Banco Santander Chile has a fifty-two week low of $22.77 and a fifty-two week high of $37.72.

Banco Santander Chile (NYSE:BSAC) last posted its earnings results on Monday, April 13th. The bank reported $0.63 EPS for the quarter. Banco Santander Chile had a net margin of 24.95% and a return on equity of 21.00%. The firm had revenue of $791.52 million for the quarter. On average, research analysts expect that Banco Santander Chile will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Banco Santander Chile by 1.6% during the first quarter. Bank of America Corp DE now owns 298,791 shares of the bank’s stock worth $9,980,000 after acquiring an additional 4,663 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Banco Santander Chile by 63.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank’s stock valued at $56,000 after acquiring an additional 653 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Banco Santander Chile by 11.4% during the 1st quarter. Quantinno Capital Management LP now owns 73,632 shares of the bank’s stock worth $2,459,000 after purchasing an additional 7,537 shares during the period. First Trust Advisors LP purchased a new position in shares of Banco Santander Chile during the 1st quarter worth $338,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Banco Santander Chile by 6.9% in the first quarter. PNC Financial Services Group Inc. now owns 11,629 shares of the bank’s stock valued at $388,000 after purchasing an additional 755 shares during the period. Institutional investors and hedge funds own 6.42% of the company’s stock.

About Banco Santander Chile

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.