State of New Jersey Common Pension Fund D Cuts Stock Position in Banco Santander-Chile (NYSE:BSAC)

State of New Jersey Common Pension Fund D lowered its holdings in Banco Santander-Chile (NYSE:BSAC) by 71.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,559 shares of the bank’s stock after selling 41,244 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Banco Santander-Chile were worth $344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. abrdn plc boosted its position in Banco Santander-Chile by 76.4% in the third quarter. abrdn plc now owns 861,295 shares of the bank’s stock worth $18,036,000 after purchasing an additional 372,936 shares during the last quarter. Blue Trust Inc. boosted its position in Banco Santander-Chile by 27.4% in the third quarter. Blue Trust Inc. now owns 16,584 shares of the bank’s stock worth $344,000 after purchasing an additional 3,563 shares during the last quarter. Cardinal Capital Management boosted its position in Banco Santander-Chile by 1.2% in the third quarter. Cardinal Capital Management now owns 98,907 shares of the bank’s stock worth $2,053,000 after purchasing an additional 1,145 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Banco Santander-Chile by 900.5% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 165,285 shares of the bank’s stock valued at $3,107,000 after buying an additional 148,764 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Banco Santander-Chile during the 2nd quarter valued at $248,000. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BSAC. The Goldman Sachs Group raised Banco Santander-Chile from a “sell” rating to a “neutral” rating and upped their price target for the company from $18.00 to $21.00 in a research report on Tuesday, August 20th. Berenberg Bank raised Banco Santander-Chile to a “hold” rating in a research report on Tuesday, July 30th. Finally, StockNews.com raised Banco Santander-Chile from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.50.

Banco Santander-Chile Stock Performance

Shares of BSAC opened at $19.27 on Wednesday. The stock’s 50-day simple moving average is $20.06 and its 200 day simple moving average is $19.76. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.40 and a beta of 0.87. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.82 and a current ratio of 1.82. Banco Santander-Chile has a 52-week low of $17.73 and a 52-week high of $21.43.

Banco Santander-Chile Company Profile

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking services in Chile. It operates through Retail Banking, Middle-Market, Corporate Investment Banking, and Corporate Activities segments. The company offers debit and credit cards, checking accounts, and savings products; consumer, automobile, commercial, mortgage, and government-guaranteed loans; and Chilean peso and foreign currency-denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines, as well as mortgage financing services.