Banco Santander-Chile (NYSE:BSAC) Rating Lowered to “Neutral” at Bank of America

Bank of America lowered shares of Banco Santander-Chile (NYSE:BSAC) from a buy rating to a neutral rating in a research report released on Monday morning, MarketBeat reports. Bank of America currently has $21.00 price objective on the bank’s stock, down from their previous price objective of $22.00.

Separately, The Goldman Sachs Group upgraded shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $18.00 to $21.00 in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.33.

Banco Santander-Chile Stock Down 0.5 %

BSAC opened at $19.36 on Monday. The stock has a market cap of $9.12 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.41 and a beta of 0.87. The stock’s 50 day moving average price is $19.64 and its 200 day moving average price is $19.74. Banco Santander-Chile has a 12 month low of $17.73 and a 12 month high of $21.43. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.79 and a quick ratio of 1.79.

Institutional Investors Weigh In On Banco Santander-Chile

Several hedge funds have recently modified their holdings of BSAC. SPX Gestao de Recursos Ltda purchased a new stake in shares of Banco Santander-Chile in the third quarter worth approximately $736,000. Franklin Resources Inc. increased its holdings in Banco Santander-Chile by 1.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,164,490 shares of the bank’s stock valued at $63,859,000 after buying an additional 33,291 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Banco Santander-Chile in the 3rd quarter valued at approximately $1,724,000. Jane Street Group LLC bought a new stake in shares of Banco Santander-Chile in the 3rd quarter worth about $527,000. Finally, State Street Corp increased its holdings in Banco Santander-Chile by 25.3% during the 3rd quarter. State Street Corp now owns 293,049 shares of the bank’s stock valued at $6,084,000 after purchasing an additional 59,215 shares in the last quarter. 6.42% of the stock is owned by hedge funds and other institutional investors.

Banco Santander-Chile Company Profile

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