Brokerages Set Banco Santander Chile (NYSE:BSAC) Target Price at $36.00

Banco Santander Chile (NYSE:BSAC) has earned an average rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $36.00.

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a research note on Monday, April 20th. Morgan Stanley set a $38.00 price target on shares of Banco Santander Chile in a research note on Wednesday, March 11th. Itau BBA Securities raised shares of Banco Santander Chile from a “market perform” rating to an “outperform” rating in a research note on Thursday, March 19th. Bank of America raised shares of Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a research note on Wednesday, April 1st. Finally, Wall Street Zen raised Banco Santander Chile from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th.

Hedge Funds Weigh In On Banco Santander Chile

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH bought a new position in shares of Banco Santander Chile during the 3rd quarter worth $597,000. INCA Investments LLC grew its position in shares of Banco Santander Chile by 36.4% during the 3rd quarter. INCA Investments LLC now owns 715,192 shares of the bank’s stock worth $18,953,000 after buying an additional 191,014 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Banco Santander Chile during the 4th quarter worth $3,369,000. JPMorgan Chase & Co. grew its position in shares of Banco Santander Chile by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,113,470 shares of the bank’s stock worth $82,507,000 after buying an additional 17,119 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Banco Santander Chile by 13.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,278 shares of the bank’s stock worth $4,240,000 after buying an additional 16,326 shares in the last quarter. Institutional investors own 6.42% of the company’s stock.

Banco Santander Chile Trading Up 0.3%

BSAC stock opened at $31.90 on Tuesday. The company has a market capitalization of $15.03 billion, a PE ratio of 13.75, a P/E/G ratio of 0.76 and a beta of 0.53. Banco Santander Chile has a 12 month low of $22.77 and a 12 month high of $37.72. The firm’s 50-day moving average is $32.53 and its 200 day moving average is $32.51. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.48 and a quick ratio of 0.48.

Banco Santander Chile (NYSE:BSAC) last posted its quarterly earnings results on Monday, April 13th. The bank reported $0.63 EPS for the quarter. The company had revenue of $791.52 million for the quarter. Banco Santander Chile had a net margin of 24.95% and a return on equity of 21.00%. On average, research analysts anticipate that Banco Santander Chile will post 2.85 EPS for the current year.

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.