Banco Santander Chile (NYSE:BSAC) Announces Earnings Results

Banco Santander Chile (NYSE:BSAC) issued its quarterly earnings data on Wednesday. The bank reported $0.90 EPS for the quarter, beating the consensus estimate of $0.69 by $0.21, Zacks reports. The company had revenue of $846.54 million for the quarter, compared to analyst estimates of $883.40 million. Banco Santander Chile had a return on equity of 21.00% and a net margin of 24.95%.

Banco Santander Chile Price Performance

BSAC traded up $0.98 during trading on Thursday, reaching $35.19. The company’s stock had a trading volume of 76,830 shares, compared to its average volume of 400,425. The company has a market cap of $16.58 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.82 and a beta of 0.52. The firm has a fifty day simple moving average of $32.52 and a two-hundred day simple moving average of $33.19. Banco Santander Chile has a 1 year low of $22.77 and a 1 year high of $37.72. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.26.

Institutional Investors Weigh In On Banco Santander Chile

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Banco Santander Chile during the second quarter worth $33,000. EverSource Wealth Advisors LLC increased its stake in shares of Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock worth $39,000 after acquiring an additional 1,329 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Banco Santander Chile by 739.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock worth $47,000 after acquiring an additional 1,309 shares during the last quarter. Barclays PLC raised its holdings in shares of Banco Santander Chile by 703.0% during the 4th quarter. Barclays PLC now owns 2,666 shares of the bank’s stock worth $83,000 after acquiring an additional 2,334 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Banco Santander Chile by 29.1% during the 4th quarter. Advisors Asset Management Inc. now owns 3,398 shares of the bank’s stock worth $106,000 after acquiring an additional 766 shares during the period. Institutional investors and hedge funds own 6.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group decreased their target price on Banco Santander Chile from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Erste Group Bank raised shares of Banco Santander Chile to a “strong-buy” rating in a report on Tuesday, May 5th. Citigroup upgraded shares of Banco Santander Chile from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a research report on Friday, July 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Banco Santander Chile from $29.00 to $33.00 and gave the company a “sell” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Banco Santander Chile currently has an average rating of “Moderate Buy” and an average target price of $35.40.

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.