Banco Santander Chile (NYSE:BSAC) Upgraded at Itau BBA Securities

Itau BBA Securities upgraded shares of Banco Santander Chile (NYSE:BSAC) from a market perform rating to an outperform rating in a research report released on Thursday, MarketBeat Ratings reports.

A number of other research analysts have also commented on BSAC. Wall Street Zen raised Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. The Goldman Sachs Group lowered Banco Santander Chile from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a research report on Wednesday, January 21st. Finally, Morgan Stanley set a $38.00 price target on Banco Santander Chile in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $30.25.

Banco Santander Chile Stock Down 3.5%

Shares of Banco Santander Chile stock opened at $31.05 on Thursday. The company has a market capitalization of $14.63 billion, a PE ratio of 13.50 and a beta of 0.57. Banco Santander Chile has a 1-year low of $20.77 and a 1-year high of $37.72. The business has a 50-day moving average of $34.23 and a 200-day moving average of $30.63. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.77 and a quick ratio of 1.77.

Banco Santander Chile (NYSE:BSAC) last posted its earnings results on Monday, February 9th. The bank reported $0.62 EPS for the quarter. Banco Santander Chile had a net margin of 24.57% and a return on equity of 21.51%. The firm had revenue of $740.07 million for the quarter. As a group, equities analysts forecast that Banco Santander Chile will post 2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC acquired a new stake in shares of Banco Santander Chile in the fourth quarter worth $292,000. Invesco Ltd. increased its position in Banco Santander Chile by 18.3% during the fourth quarter. Invesco Ltd. now owns 43,551 shares of the bank’s stock worth $1,355,000 after acquiring an additional 6,745 shares during the period. Vident Advisory LLC raised its stake in Banco Santander Chile by 6.6% during the 4th quarter. Vident Advisory LLC now owns 32,634 shares of the bank’s stock valued at $1,015,000 after purchasing an additional 2,007 shares during the last quarter. Millennium Management LLC raised its stake in Banco Santander Chile by 221.0% during the 4th quarter. Millennium Management LLC now owns 271,827 shares of the bank’s stock valued at $8,457,000 after purchasing an additional 187,151 shares during the last quarter. Finally, Laird Norton Wetherby Trust Company LLC bought a new stake in Banco Santander Chile in the 4th quarter valued at $531,000. 6.42% of the stock is owned by institutional investors.

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.