Banco Santander-Chile (NASDAQ:BSAC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $29.00 target price on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.20% from the company’s current price.

According to Zacks, “Banco Santiago is the largest bank in Chile, in terms of assets with Ch$4,088 billion (approximately US$9.86 billion ) as of March 31, 1997. The bank is the result of the merger of two of the largest institutions in the Chilean banking system, Banco O’Higgins S.A., mainly a corporate bank, and Banco de Santiago S.A., mainly focused in consumer and middle-market lending. “

Several other brokerages also recently weighed in on BSAC. BidaskClub raised shares of Banco Santander-Chile from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Credit Suisse Group reissued a “neutral” rating and issued a $26.00 target price (up previously from $25.00) on shares of Banco Santander-Chile in a research note on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) boosted their target price on shares of Banco Santander-Chile from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.25.

Shares of Banco Santander-Chile (NASDAQ BSAC) traded down 0.42% during midday trading on Tuesday, hitting $26.08. 484,883 shares of the stock were exchanged. The firm has a market cap of $12.29 billion and a PE ratio of 16.30. Banco Santander-Chile has a 12-month low of $20.05 and a 12-month high of $26.72. The firm has a 50-day moving average price of $24.74 and a 200 day moving average price of $23.43.

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A number of hedge funds and other institutional investors have recently made changes to their positions in BSAC. BNP Paribas Arbitrage SA purchased a new position in shares of Banco Santander-Chile during the first quarter valued at $235,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Banco Santander-Chile by 27.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,930 shares of the bank’s stock valued at $299,000 after buying an additional 2,580 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Banco Santander-Chile during the first quarter valued at $428,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Banco Santander-Chile during the first quarter valued at $224,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Banco Santander-Chile by 58.8% in the first quarter. Canada Pension Plan Investment Board now owns 271,592 shares of the bank’s stock valued at $6,812,000 after buying an additional 100,523 shares during the last quarter.

Banco Santander-Chile Company Profile

Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank’s segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations.

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