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

Banco Santander Chile (NYSE:BSAC) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $43.00 to $39.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.34% from the stock’s previous close.

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

Banco Santander Chile Stock Performance

Shares of NYSE BSAC opened at $31.62 on Tuesday. The company has a 50 day simple moving average of $34.59 and a two-hundred day simple moving average of $33.30. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.79 and a beta of 0.49. The company has a current ratio of 1.72, a quick ratio of 0.48 and a debt-to-equity ratio of 2.06. Banco Santander Chile has a 12 month low of $26.27 and a 12 month high of $37.72.

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 firm had revenue of $905.26 million for the quarter. As a group, analysts predict that Banco Santander Chile will post 2.93 earnings per share for the current year.

Institutional Trading of Banco Santander Chile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its holdings in shares of Banco Santander Chile by 8.8% during the first quarter. Sequoia Financial Advisors LLC now owns 7,645 shares of the bank’s stock worth $255,000 after buying an additional 618 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Banco Santander Chile by 63.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank’s stock valued at $56,000 after buying an additional 653 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Banco Santander Chile by 6.9% in the first quarter. PNC Financial Services Group Inc. now owns 11,629 shares of the bank’s stock worth $388,000 after buying an additional 755 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Banco Santander Chile by 13.0% in the second quarter. QRG Capital Management Inc. now owns 7,245 shares of the bank’s stock worth $239,000 after buying an additional 833 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Banco Santander Chile during the second quarter worth about $35,000. Institutional investors and hedge funds own 6.42% of the company’s stock.

Banco Santander Chile Company Profile

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.