Goldman Sachs Group Begins Coverage on Banco Santander-Chile (NYSE:BSAC)

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Goldman Sachs Group assumed coverage on shares of Banco Santander-Chile (NYSE:BSAC) in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $30.00 price target on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. HSBC raised Banco Santander-Chile from a reduce rating to a hold rating in a research note on Thursday, July 18th. Zacks Investment Research cut Banco Santander-Chile from a hold rating to a sell rating in a research note on Friday, August 9th. ValuEngine cut Banco Santander-Chile from a buy rating to a hold rating in a research note on Wednesday, July 31st. Finally, Scotia Howard Weill raised Banco Santander-Chile from a sector perform rating to an outperform rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Banco Santander-Chile presently has an average rating of Hold and a consensus target price of $31.00.

NYSE:BSAC opened at $28.98 on Tuesday. Banco Santander-Chile has a 52 week low of $27.06 and a 52 week high of $33.32. The company has a quick ratio of 1.75, a current ratio of 1.82 and a debt-to-equity ratio of 3.23. The company has a market capitalization of $13.43 billion, a P/E ratio of 16.10, a P/E/G ratio of 2.21 and a beta of 0.65. The stock’s fifty day moving average is $28.52 and its two-hundred day moving average is $29.34.

Banco Santander-Chile (NYSE:BSAC) last posted its earnings results on Friday, July 26th. The bank reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. Banco Santander-Chile had a return on equity of 17.28% and a net margin of 22.24%. The company had revenue of $646.11 million for the quarter, compared to the consensus estimate of $683.74 million. Sell-side analysts anticipate that Banco Santander-Chile will post 1.89 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of BSAC. Bank of Montreal Can grew its stake in Banco Santander-Chile by 121,425.0% during the 1st quarter. Bank of Montreal Can now owns 19,444 shares of the bank’s stock worth $578,000 after purchasing an additional 19,428 shares in the last quarter. Stevens Capital Management LP acquired a new position in Banco Santander-Chile during the 1st quarter worth $731,000. JPMorgan Chase & Co. grew its stake in Banco Santander-Chile by 0.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,106,818 shares of the bank’s stock worth $151,928,000 after purchasing an additional 30,780 shares in the last quarter. Todd Asset Management LLC grew its stake in Banco Santander-Chile by 1.1% during the 1st quarter. Todd Asset Management LLC now owns 640,064 shares of the bank’s stock worth $19,042,000 after purchasing an additional 7,119 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its stake in Banco Santander-Chile by 5.0% during the 1st quarter. Commonwealth Bank of Australia now owns 59,222 shares of the bank’s stock worth $1,758,000 after purchasing an additional 2,800 shares in the last quarter. 12.62% of the stock is owned by institutional investors and hedge funds.

About Banco Santander-Chile

Banco Santander-Chile provides commercial and retail banking products and services in Chile. It operates through Retail Banking, Middle-Market, and Global Corporate Banking segments. The company offers checking accounts and savings products; consumer, auto, commercial, mortgage, and government-guaranteed loans; credit and debit cards; and Chilean peso and foreign currency denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines.

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