Allspring Global Investments Holdings LLC Cuts Stock Position in Banco Santander Chile $BSAC

Allspring Global Investments Holdings LLC reduced its position in Banco Santander Chile (NYSE:BSAC) by 10.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,227,797 shares of the bank’s stock after selling 255,376 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.47% of Banco Santander Chile worth $55,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSAC. Brooklyn Investment Group boosted its holdings in shares of Banco Santander Chile by 54,450.0% in the 1st quarter. Brooklyn Investment Group now owns 1,091 shares of the bank’s stock worth $25,000 after purchasing an additional 1,089 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Banco Santander Chile by 3,456.9% in the 1st quarter. GAMMA Investing LLC now owns 8,003 shares of the bank’s stock worth $182,000 after purchasing an additional 7,778 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Banco Santander Chile in the 1st quarter worth about $206,000. Natixis Advisors LLC purchased a new position in shares of Banco Santander Chile in the 1st quarter worth about $238,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Banco Santander Chile in the 1st quarter worth about $240,000. 6.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BSAC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Wall Street Zen lowered Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $24.00.

Banco Santander Chile Trading Up 0.1%

BSAC opened at $26.77 on Wednesday. The business has a 50 day simple moving average of $25.25 and a two-hundred day simple moving average of $24.43. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.00 and a beta of 0.73. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.77 and a quick ratio of 1.77. Banco Santander Chile has a one year low of $18.19 and a one year high of $27.07.

Banco Santander Chile (NYSE:BSAC) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The business had revenue of $757.38 million for the quarter, compared to the consensus estimate of $758.17 million. Banco Santander Chile had a net margin of 24.32% and a return on equity of 22.17%. Analysts predict that Banco Santander Chile will post 2.07 EPS for the current year.

Banco Santander Chile Company Profile

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