The Goldman Sachs Group Issues Positive Forecast for Banco Santander Chile (NYSE:BSAC) Stock Price

Banco Santander Chile (NYSE:BSAC) had its price objective raised by research analysts at The Goldman Sachs Group from $29.00 to $33.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sell” rating on the bank’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 0.36% from the company’s previous close.

BSAC has been the subject of a number of other research reports. UBS Group cut their price target on Banco Santander Chile from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Wall Street Zen downgraded Banco Santander Chile from a “hold” rating to a “sell” rating in a research report on Sunday. Erste Group Bank upgraded Banco Santander Chile to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Monday, April 20th. Finally, Citigroup raised Banco Santander Chile from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.40.

Banco Santander Chile Stock Down 1.8%

BSAC traded down $0.60 during midday trading on Thursday, hitting $33.12. The company had a trading volume of 93,044 shares, compared to its average volume of 409,317. The stock’s 50 day moving average price is $31.86 and its 200 day moving average price is $33.04. Banco Santander Chile has a 52 week low of $22.77 and a 52 week high of $37.72. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.82 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.26.

Banco Santander Chile (NYSE:BSAC) last released its quarterly earnings data on Friday, July 10th. The bank reported $0.88 earnings per share (EPS) for the quarter. The company had revenue of $847.27 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 2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banco Santander Chile

Hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its stake in Banco Santander Chile by 36.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 46,599 shares of the bank’s stock valued at $1,535,000 after purchasing an additional 12,562 shares during the last quarter. Bank of America Corp DE increased its position in Banco Santander Chile by 1.6% in the first quarter. Bank of America Corp DE now owns 298,791 shares of the bank’s stock worth $9,980,000 after buying an additional 4,663 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Banco Santander Chile by 63.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank’s stock worth $56,000 after buying an additional 653 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Banco Santander Chile by 11.4% in the first quarter. Quantinno Capital Management LP now owns 73,632 shares of the bank’s stock valued at $2,459,000 after buying an additional 7,537 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Banco Santander Chile in the first quarter valued at $338,000. Institutional investors own 6.42% of the company’s stock.

Banco Santander Chile Company Profile

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.