Banco Santander Chile (NYSE:BSAC) Cut to Strong Sell at The Goldman Sachs Group

Banco Santander Chile (NYSE:BSAC) was downgraded by stock analysts at The Goldman Sachs Group from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on BSAC. Citigroup cut shares of Banco Santander Chile from a “buy” rating to a “hold” rating in a report on Friday, November 7th. Wall Street Zen downgraded shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Tuesday, December 30th. JPMorgan Chase & Co. upped their price objective on Banco Santander Chile from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Finally, UBS Group boosted their target price on Banco Santander Chile from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, November 10th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $27.67.

Banco Santander Chile Trading Down 1.1%

Shares of NYSE BSAC opened at $32.93 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $15.68 billion, a PE ratio of 14.19, a PEG ratio of 0.76 and a beta of 0.56. Banco Santander Chile has a twelve month low of $18.39 and a twelve month high of $33.49. The stock has a fifty day simple moving average of $30.56 and a 200-day simple moving average of $27.18.

Banco Santander Chile (NYSE:BSAC) last announced its earnings results on Monday, November 17th. The bank reported $0.99 EPS for the quarter. The company had revenue of $740.10 million during the quarter. Banco Santander Chile had a return on equity of 22.18% and a net margin of 24.74%. On average, equities analysts forecast that Banco Santander Chile will post 2.07 earnings per share for the current year.

Institutional Trading of Banco Santander Chile

A number of institutional investors have recently bought and sold shares of BSAC. Simplex Trading LLC purchased a new stake in Banco Santander Chile during the second quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in shares of Banco Santander Chile during the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock valued at $39,000 after buying an additional 1,329 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Banco Santander Chile by 380.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,532 shares of the bank’s stock valued at $89,000 after buying an additional 2,797 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in shares of Banco Santander Chile in the 3rd quarter valued at $152,000. 6.42% of the stock is owned by hedge funds and other 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.