JPMorgan Chase & Co. Cuts Banco Santander Chile (NYSE:BSAC) Price Target to $39.00

Banco Santander Chile (NYSE:BSAC) had its target price reduced by JPMorgan Chase & Co. from $43.00 to $39.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

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

Banco Santander Chile Stock Up 0.9%

NYSE:BSAC opened at $31.92 on Tuesday. Banco Santander Chile has a 1 year low of $26.27 and a 1 year high of $37.72. The stock has a 50-day moving average price of $34.53 and a two-hundred day moving average price of $33.31. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.78 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 (NYSE:BSAC) last released its quarterly earnings results on Tuesday, June 30th. The bank reported $0.87 EPS for the quarter. Banco Santander Chile had a return on equity of 22.94% and a net margin of 27.04%.The company had revenue of $905.26 million for the quarter. As a group, equities analysts expect that Banco Santander Chile will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On Banco Santander Chile

A number of institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. lifted its stake in Banco Santander Chile by 13.0% in the 2nd quarter. QRG Capital Management Inc. now owns 7,245 shares of the bank’s stock valued at $239,000 after purchasing an additional 833 shares during the last quarter. ABS Direct Equity Fund LLC bought a new stake in Banco Santander Chile in the second quarter valued at approximately $1,317,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Banco Santander Chile in the second quarter valued at approximately $35,000. Nykredit A S bought a new position in shares of Banco Santander Chile during the 2nd quarter worth approximately $1,414,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Banco Santander Chile during the 2nd quarter worth approximately $90,000. 6.42% of the stock is owned by institutional investors.

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.