Zurcher Kantonalbank Zurich Cantonalbank Purchases 16,326 Shares of Banco Santander Chile $BSAC

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Banco Santander Chile (NYSE:BSAC) by 13.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 136,278 shares of the bank’s stock after buying an additional 16,326 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Banco Santander Chile were worth $4,240,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in Banco Santander Chile in the 3rd quarter valued at about $597,000. Robeco Institutional Asset Management B.V. boosted its position in Banco Santander Chile by 200.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 832,647 shares of the bank’s stock valued at $22,065,000 after buying an additional 555,919 shares during the period. INCA Investments LLC boosted its position in Banco Santander Chile by 36.4% in the 3rd quarter. INCA Investments LLC now owns 715,192 shares of the bank’s stock valued at $18,953,000 after buying an additional 191,014 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in Banco Santander Chile in the 4th quarter valued at about $3,369,000. Finally, JPMorgan Chase & Co. boosted its position in Banco Santander Chile by 0.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,113,470 shares of the bank’s stock valued at $82,507,000 after buying an additional 17,119 shares during the period. 6.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BSAC has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Banco Santander Chile in a research report on Monday. JPMorgan Chase & Co. raised shares of Banco Santander Chile from a “neutral” rating to an “overweight” rating and set a $40.00 price objective for the company in a research report on Monday, March 30th. Morgan Stanley set a $38.00 price objective on shares of Banco Santander Chile in a research report on Wednesday, March 11th. Bank of America raised shares of Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 price objective for the company in a research report on Wednesday, April 1st. Finally, The Goldman Sachs Group cut shares of Banco Santander Chile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.50.

Banco Santander Chile Price Performance

Shares of BSAC opened at $33.88 on Friday. The company has a 50 day moving average price of $33.48 and a 200-day moving average price of $31.95. Banco Santander Chile has a fifty-two week low of $22.77 and a fifty-two week high of $37.72. The stock has a market capitalization of $15.96 billion, a PE ratio of 14.73, a PEG ratio of 1.01 and a beta of 0.55. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.77 and a current ratio of 1.77.

Banco Santander Chile (NYSE:BSAC) last announced its quarterly earnings results on Monday, April 13th. The bank reported $0.63 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 firm had revenue of $787.51 million during the quarter. Equities analysts predict that Banco Santander Chile will post 2.72 earnings per share for the current fiscal year.

Banco Santander Chile Profile

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.