Brokerages Set Banco Santander Chile (NYSE:BSAC) Price Target at $36.00

Banco Santander Chile (NYSE:BSAC) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $35.40.

Several brokerages have recently weighed in on BSAC. Wall Street Zen downgraded shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Bank of America raised shares of Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research note on Wednesday, April 1st. Erste Group Bank raised shares of Banco Santander Chile to a “strong-buy” rating in a research report on Tuesday, May 5th. UBS Group decreased their price objective on shares of Banco Santander Chile from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. raised shares of Banco Santander Chile from a “neutral” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Monday, March 30th.

Banco Santander Chile Trading Up 0.1%

Shares of BSAC stock opened at $32.88 on Wednesday. The company has a market cap of $15.49 billion, a PE ratio of 14.17, a price-to-earnings-growth 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 stock’s 50 day simple moving average is $31.96 and its two-hundred day simple moving average is $33.06. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.48 and a quick ratio of 0.48.

Banco Santander Chile (NYSE:BSAC) last announced its earnings results on Friday, July 10th. The bank reported $0.88 EPS for the quarter. Banco Santander Chile had a return on equity of 21.00% and a net margin of 24.95%. Research analysts predict that Banco Santander Chile will post 2.79 earnings per share for the current year.

Institutional Trading of Banco Santander Chile

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Banco Santander Chile in the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its stake in Banco Santander Chile by 577.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock worth $39,000 after buying an additional 1,329 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Banco Santander Chile by 199.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock worth $47,000 after buying an additional 1,007 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Banco Santander Chile by 739.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock worth $47,000 after buying an additional 1,309 shares during the period. Finally, Barclays PLC lifted its holdings in Banco Santander Chile by 703.0% during the fourth quarter. Barclays PLC now owns 2,666 shares of the bank’s stock worth $83,000 after buying an additional 2,334 shares during the period. 6.42% of the stock is currently 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.