JPMorgan Chase & Co. Has Lowered Expectations for Banco Santander Chile (NYSE:BSAC) Stock Price

Banco Santander Chile (NYSE:BSAC) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $43.00 to $39.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 19.93% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen upgraded Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research lowered shares of Banco Santander Chile from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. The Goldman Sachs Group lifted their target price on shares of Banco Santander Chile from $29.00 to $33.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. Citigroup upgraded Banco Santander Chile from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings raised Banco Santander Chile from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.20.

Banco Santander Chile Trading Down 0.6%

NYSE BSAC traded down $0.18 during trading hours on Tuesday, hitting $32.52. 153,129 shares of the company’s stock were exchanged, compared to its average volume of 377,481. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.77 and a beta of 0.49. Banco Santander Chile has a 1-year low of $26.03 and a 1-year high of $37.72. The company has a current ratio of 1.72, a quick ratio of 0.48 and a debt-to-equity ratio of 2.06. The stock has a 50-day simple moving average of $34.68 and a 200 day simple moving average of $33.30.

Banco Santander Chile (NYSE:BSAC) last released its quarterly earnings data on Tuesday, June 30th. The bank reported $0.87 earnings per share for the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 22.94%. The company had revenue of $905.26 million during the quarter. On average, equities analysts forecast that Banco Santander Chile will post 2.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Banco Santander Chile

Several large investors have recently modified their holdings of the stock. USS Investment Management Ltd raised its holdings in shares of Banco Santander Chile by 45.5% in the 4th quarter. USS Investment Management Ltd now owns 1,561,544 shares of the bank’s stock worth $48,603,000 after purchasing an additional 488,676 shares during the period. INCA Investments LLC grew its holdings in Banco Santander Chile by 18.8% during the first quarter. INCA Investments LLC now owns 1,263,892 shares of the bank’s stock valued at $42,214,000 after purchasing an additional 199,618 shares during the period. Dimensional Fund Advisors LP increased its position in Banco Santander Chile by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 643,160 shares of the bank’s stock worth $21,461,000 after buying an additional 57,400 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. Finally, Deprince Race & Zollo Inc. raised its stake in shares of Banco Santander Chile by 78.7% in the first quarter. Deprince Race & Zollo Inc. now owns 193,499 shares of the bank’s stock valued at $6,463,000 after buying an additional 85,215 shares during the period. Hedge funds and other institutional investors own 6.42% of the company’s stock.

About Banco Santander Chile

Banco Santander Chile is a Chilean financial institution and a subsidiary of Spain-based Banco Santander. Listed on the New York Stock Exchange under the symbol BSAC, the bank provides banking and financial services to individuals, small and medium-sized businesses, middle-market companies, and large corporations throughout Chile.

Its principal offerings include consumer and commercial loans, mortgages, checking and savings accounts, credit and debit cards, insurance-related products, investment and wealth-management services, and payment and cash-management solutions.