Banco Santander-Chile (BSAC) Rating Lowered to Hold at BidaskClub

Banco Santander-Chile (NASDAQ:BSAC) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Banco Santander-Chile from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, July 18th. Scotia Howard Weill raised shares of Banco Santander-Chile from a “sector perform” rating to an “outperform” rating in a report on Friday, August 25th. Finally, UBS AG cut shares of Banco Santander-Chile from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $24.00 to $27.00 in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $27.00.

Shares of Banco Santander-Chile (NASDAQ BSAC) opened at 29.58 on Friday. The stock has a market cap of $13.94 billion and a P/E ratio of 18.49. Banco Santander-Chile has a 52-week low of $20.22 and a 52-week high of $30.18. The firm’s 50-day moving average is $29.22 and its 200 day moving average is $25.79.

Banco Santander-Chile (NASDAQ:BSAC) last released its quarterly earnings data on Friday, July 28th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. Banco Santander-Chile had a net margin of 29.10% and a return on equity of 20.58%. The company had revenue of $704.02 million for the quarter, compared to analysts’ expectations of $458.92 million. During the same quarter last year, the company earned $0.40 earnings per share. Analysts forecast that Banco Santander-Chile will post $1.82 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank raised its holdings in Banco Santander-Chile by 4.7% during the second quarter. Huntington National Bank now owns 4,757 shares of the bank’s stock worth $121,000 after purchasing an additional 212 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Banco Santander-Chile by 24.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,879 shares of the bank’s stock worth $122,000 after purchasing an additional 967 shares in the last quarter. FNY Partners Fund LP acquired a new stake in Banco Santander-Chile during the first quarter worth approximately $125,000. Global X Management Co. LLC raised its holdings in Banco Santander-Chile by 27.4% during the first quarter. Global X Management Co. LLC now owns 7,497 shares of the bank’s stock worth $188,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Banco Santander-Chile during the first quarter worth approximately $224,000.

About Banco Santander-Chile

Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank’s segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations.

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