Banco Santander Chile (NYSE:BSAC) Raised to Overweight at JPMorgan Chase & Co.

Banco Santander Chile (NYSE:BSAC) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has a $40.00 price target on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 26.78% from the stock’s current price.

A number of other brokerages have also weighed in on BSAC. The Goldman Sachs Group lowered shares of Banco Santander Chile from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Morgan Stanley set a $38.00 price objective on Banco Santander Chile in a report on Wednesday, March 11th. Itau BBA Securities upgraded Banco Santander Chile from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded Banco Santander Chile from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.75.

Banco Santander Chile Stock Up 0.0%

Shares of NYSE:BSAC opened at $31.55 on Monday. Banco Santander Chile has a 12 month low of $20.77 and a 12 month high of $37.72. The company’s 50-day moving average price is $34.14 and its two-hundred day moving average price is $30.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.94. The firm has a market cap of $14.86 billion, a P/E ratio of 13.72 and a beta of 0.57.

Banco Santander Chile (NYSE:BSAC) last announced its earnings results on Monday, February 9th. The bank reported $0.62 earnings per share for the quarter. Banco Santander Chile had a net margin of 24.57% and a return on equity of 21.51%. The company had revenue of $740.07 million during the quarter. As a group, research analysts forecast that Banco Santander Chile will post 2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

Several large investors have recently bought and sold shares of BSAC. Raymond James Financial Inc. acquired a new position in shares of Banco Santander Chile in the 2nd quarter valued at $33,000. EverSource Wealth Advisors LLC increased its position 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. Farther Finance Advisors LLC raised its stake in Banco Santander Chile by 199.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock worth $47,000 after buying an additional 1,007 shares during the period. Smartleaf Asset Management LLC raised its stake in Banco Santander Chile by 739.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock worth $47,000 after buying an additional 1,309 shares during the period. Finally, Barclays PLC lifted its holdings in Banco Santander Chile by 703.0% during the fourth quarter. Barclays PLC now owns 2,666 shares of the bank’s stock worth $83,000 after acquiring an additional 2,334 shares in the last quarter. 6.42% of the stock is currently owned by institutional investors and hedge funds.

About Banco Santander Chile

Banco Santander Chile (NYSE:BSAC) is one of the leading financial institutions in Chile and a key component of the global Santander Group. The bank offers a comprehensive range of banking and financial services, including retail and commercial lending, deposit accounts, credit cards, wealth management, insurance products and corporate banking solutions. Headquartered in Santiago, it operates an extensive network of branches, ATMs and digital platforms to serve individual customers, small and medium-sized enterprises and large corporations across the country.

Originally founded as Banco de Santiago in the late 1970s, the institution became part of the Santander Group following the privatization wave in Chile during the late 1980s.