Banco Santander Chile (NYSE:BSAC) Releases Earnings Results

Banco Santander Chile (NYSE:BSAC) released its quarterly earnings results on Friday. The bank reported $0.88 earnings per share for the quarter, FiscalAI reports. Banco Santander Chile had a net margin of 24.95% and a return on equity of 21.00%. The business had revenue of $245.09 million for the quarter.

Banco Santander Chile Price Performance

NYSE:BSAC traded up $0.53 during trading hours on Friday, reaching $33.96. 452,234 shares of the company were exchanged, compared to its average volume of 414,436. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.26. The stock’s 50-day moving average is $31.68 and its 200-day moving average is $32.97. The firm has a market cap of $16.00 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. Banco Santander Chile has a twelve month low of $22.77 and a twelve month high of $37.72.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BSAC shares. UBS Group cut their price target on shares of Banco Santander Chile from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a report on Monday, April 20th. Citigroup upgraded shares of Banco Santander Chile from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Erste Group Bank raised shares of Banco Santander Chile to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Banco Santander Chile has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Institutional Trading of Banco Santander Chile

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Banco Santander Chile by 0.6% in the third quarter. JPMorgan Chase & Co. now owns 3,113,470 shares of the bank’s stock valued at $82,507,000 after purchasing an additional 17,119 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Banco Santander Chile by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,599,117 shares of the bank’s stock worth $49,749,000 after acquiring an additional 5,660 shares during the last quarter. USS Investment Management Ltd lifted 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 acquiring an additional 488,676 shares during the last quarter. INCA Investments LLC boosted its position in shares of Banco Santander Chile by 18.8% during the 1st quarter. INCA Investments LLC now owns 1,263,892 shares of the bank’s stock worth $42,214,000 after purchasing an additional 199,618 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Banco Santander Chile by 9.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 643,160 shares of the bank’s stock worth $21,461,000 after purchasing an additional 57,400 shares during the period. Hedge funds and other 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.