UBS Group Increases Banco Santander Chile (NYSE:BSAC) Price Target to $29.00

Banco Santander Chile (NYSE:BSAC) had its price target boosted by research analysts at UBS Group from $24.00 to $29.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. UBS Group’s target price indicates a potential downside of 3.04% from the stock’s current price.

BSAC has been the topic of a number of other research reports. Citigroup cut Banco Santander Chile from a “buy” rating to a “hold” rating in a research note on Friday. Wall Street Zen downgraded shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. upped their price target on shares of Banco Santander Chile from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $27.67.

Banco Santander Chile Price Performance

Shares of NYSE:BSAC traded up $0.21 on Monday, reaching $29.91. 163,950 shares of the company traded hands, compared to its average volume of 343,597. The stock has a market capitalization of $14.09 billion, a PE ratio of 12.89, a P/E/G ratio of 0.74 and a beta of 0.74. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.87 and a quick ratio of 1.77. The company’s 50 day moving average is $26.85 and its 200-day moving average is $25.16. Banco Santander Chile has a fifty-two week low of $18.19 and a fifty-two week high of $30.18.

Banco Santander Chile (NYSE:BSAC) last announced its earnings results on Thursday, October 30th. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). Banco Santander Chile had a return on equity of 22.18% and a net margin of 24.74%.The company had revenue of $581.56 million for the quarter, compared to analyst estimates of $732.50 million. As a group, analysts anticipate that Banco Santander Chile will post 2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

A number of hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group boosted its position in Banco Santander Chile by 54,450.0% during the first quarter. Brooklyn Investment Group now owns 1,091 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,089 shares during the last quarter. Simplex Trading LLC purchased a new stake in shares of Banco Santander Chile during the 2nd quarter worth about $25,000. Raymond James Financial Inc. acquired a new stake in shares of Banco Santander Chile during the 2nd quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its stake in shares of Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock valued at $39,000 after buying an additional 1,329 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Banco Santander Chile by 380.5% in the second quarter. Hantz Financial Services Inc. now owns 3,532 shares of the bank’s stock worth $89,000 after buying an additional 2,797 shares during the last quarter. 6.42% of the stock is owned by institutional investors and hedge funds.

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.