Banco Santander Chile (NYSE:BSAC) Posts Earnings Results, Beats Estimates By $0.01 EPS

Banco Santander Chile (NYSE:BSAC) issued its quarterly earnings results on Thursday. The bank reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01, reports. The company had revenue of $791.52 million for the quarter, compared to the consensus estimate of $814.15 million. Banco Santander Chile had a net margin of 24.57% and a return on equity of 21.51%.

Banco Santander Chile Stock Performance

Banco Santander Chile stock traded down $0.40 during midday trading on Friday, reaching $31.58. The stock had a trading volume of 19,836 shares, compared to its average volume of 406,477. Banco Santander Chile has a 12 month low of $22.77 and a 12 month high of $37.72. The firm’s 50-day moving average price is $33.24 and its 200 day moving average price is $32.13. The firm has a market capitalization of $14.88 billion, a PE ratio of 13.72, a P/E/G ratio of 0.97 and a beta of 0.55. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.94.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BSAC shares. JPMorgan Chase & Co. raised shares of Banco Santander Chile from a “neutral” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Monday, March 30th. Morgan Stanley set a $38.00 price target on shares of Banco Santander Chile in a report on Wednesday, March 11th. Itau BBA Securities raised shares of Banco Santander Chile from a “market perform” rating to an “outperform” rating in a report on Thursday, March 19th. Wall Street Zen raised shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, The Goldman Sachs Group downgraded shares of Banco Santander Chile from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Banco Santander Chile presently has an average rating of “Hold” and an average target price of $35.50.

Institutional Investors Weigh In On Banco Santander Chile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Banco Santander Chile by 8.7% in the 4th quarter. Renaissance Technologies LLC now owns 626,218 shares of the bank’s stock valued at $19,482,000 after acquiring an additional 50,191 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Banco Santander Chile by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 585,760 shares of the bank’s stock valued at $18,226,000 after buying an additional 19,283 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Banco Santander Chile by 19.6% during the third quarter. Qube Research & Technologies Ltd now owns 525,577 shares of the bank’s stock valued at $13,928,000 after buying an additional 85,964 shares during the period. Millennium Management LLC increased its position in shares of Banco Santander Chile by 221.0% during the fourth quarter. Millennium Management LLC now owns 271,827 shares of the bank’s stock valued at $8,457,000 after buying an additional 187,151 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Banco Santander Chile by 120.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 254,585 shares of the bank’s stock valued at $6,747,000 after buying an additional 139,015 shares during the period. 6.42% of the stock is currently owned by institutional investors.

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.