Banco Santander Chile (NYSE:BSAC) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Banco Santander Chile (NYSE:BSAC) from a neutral rating to an overweight rating in a report released on Monday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $40.00 target price on the bank’s stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley set a $38.00 target price on Banco Santander Chile in a research report on Wednesday, March 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Chile in a research report on Wednesday, January 21st. Wall Street Zen upgraded Banco Santander Chile from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. The Goldman Sachs Group cut shares of Banco Santander Chile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Finally, Itau BBA Securities upgraded Banco Santander Chile from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Banco Santander Chile currently has an average rating of “Hold” and an average price target of $35.50.

Banco Santander Chile Trading Up 1.0%

BSAC opened at $33.75 on Monday. 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 has a fifty-two week low of $20.77 and a fifty-two week high of $37.72. The firm has a market capitalization of $15.90 billion, a PE ratio of 14.67 and a beta of 0.57. The company’s 50-day moving average is $34.11 and its 200 day moving average is $31.01.

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

Hedge Funds Weigh In On Banco Santander Chile

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Banco Santander Chile in the 2nd quarter valued at $33,000. EverSource Wealth Advisors LLC raised its position in Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock worth $39,000 after purchasing an additional 1,329 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Banco Santander Chile by 199.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,007 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Banco Santander Chile by 739.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,309 shares during the last quarter. Finally, Barclays PLC raised its holdings in Banco Santander Chile by 703.0% during the 4th quarter. Barclays PLC now owns 2,666 shares of the bank’s stock valued at $83,000 after buying an additional 2,334 shares during the last quarter. 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.