Banco Santander-Chile (NYSE:BSAC) Stake Increased by INCA Investments LLC

INCA Investments LLC increased its stake in shares of Banco Santander-Chile (NYSE:BSAC) by 29.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,995,167 shares of the bank’s stock after purchasing an additional 685,267 shares during the period. Banco Santander-Chile accounts for 30.9% of INCA Investments LLC’s investment portfolio, making the stock its largest position. INCA Investments LLC’s holdings in Banco Santander-Chile were worth $74,370,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cardinal Capital Management raised its holdings in shares of Banco Santander-Chile by 1.2% in the 1st quarter. Cardinal Capital Management now owns 44,577 shares of the bank’s stock valued at $1,107,000 after acquiring an additional 538 shares in the last quarter. Blueshift Asset Management LLC raised its holdings in shares of Banco Santander-Chile by 4.1% in the 1st quarter. Blueshift Asset Management LLC now owns 21,084 shares of the bank’s stock valued at $524,000 after acquiring an additional 839 shares in the last quarter. Comerica Bank raised its holdings in shares of Banco Santander-Chile by 3.9% in the 1st quarter. Comerica Bank now owns 26,385 shares of the bank’s stock valued at $618,000 after acquiring an additional 991 shares in the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Banco Santander-Chile by 1.7% in the 1st quarter. Deprince Race & Zollo Inc. now owns 79,488 shares of the bank’s stock valued at $1,974,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Banco Santander-Chile by 46.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 17,000 shares of the bank’s stock valued at $323,000 after purchasing an additional 5,400 shares during the last quarter. 10.65% of the stock is currently owned by institutional investors and hedge funds.

BSAC has been the topic of several recent research reports. Credit Suisse Group lowered Banco Santander-Chile from an “outperform” rating to a “neutral” rating in a research report on Friday, March 26th. Scotiabank lowered Banco Santander-Chile from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 7th. Bank of America upgraded Banco Santander-Chile from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $27.00 in a research report on Tuesday, May 4th. Finally, Zacks Investment Research lowered Banco Santander-Chile from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 16th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

NYSE BSAC traded up $0.05 on Thursday, hitting $19.23. The company’s stock had a trading volume of 1,013 shares, compared to its average volume of 390,771. Banco Santander-Chile has a 52-week low of $13.31 and a 52-week high of $26.15. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.96 and a current ratio of 1.96. The firm’s 50-day simple moving average is $20.21. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.63 and a beta of 0.81.

Banco Santander-Chile (NYSE:BSAC) last released its quarterly earnings data on Friday, April 30th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.11. The business had revenue of $753.20 million during the quarter, compared to analysts’ expectations of $750.17 million. Banco Santander-Chile had a return on equity of 16.12% and a net margin of 21.26%. As a group, sell-side analysts anticipate that Banco Santander-Chile will post 1.93 earnings per share for the current fiscal year.

About Banco Santander-Chile

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking products and services in Chile. It operates through Retail Banking, Middle-Market, and Corporate Investment Banking 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.

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Institutional Ownership by Quarter for Banco Santander-Chile (NYSE:BSAC)

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