Short Interest in Banco Santander-Chile (NYSE:BSAC) Drops By 15.5%

Banco Santander-Chile (NYSE:BSACGet Rating) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 1,470,000 shares, a drop of 15.5% from the April 30th total of 1,740,000 shares. Based on an average daily trading volume, of 659,300 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.3% of the company’s stock are sold short.

A number of research firms recently issued reports on BSAC. Credit Suisse Group upgraded Banco Santander-Chile from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $24.00 in a report on Wednesday, March 2nd. JPMorgan Chase & Co. downgraded Banco Santander-Chile from an “overweight” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Thursday, February 17th. Zacks Investment Research upgraded Banco Santander-Chile from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, April 19th. Finally, StockNews.com upgraded Banco Santander-Chile from a “sell” rating to a “hold” rating in a report on Friday, May 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.67.

A number of hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. acquired a new stake in shares of Banco Santander-Chile in the first quarter valued at approximately $314,000. Emerging Variant Capital Management LP lifted its position in shares of Banco Santander-Chile by 152.0% in the first quarter. Emerging Variant Capital Management LP now owns 252,000 shares of the bank’s stock valued at $22,590,000 after buying an additional 152,000 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Banco Santander-Chile by 35.8% in the first quarter. Guggenheim Capital LLC now owns 54,717 shares of the bank’s stock valued at $1,236,000 after buying an additional 14,419 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Banco Santander-Chile in the first quarter valued at approximately $653,000. Finally, Ethic Inc. acquired a new stake in shares of Banco Santander-Chile in the first quarter valued at approximately $327,000. Hedge funds and other institutional investors own 10.65% of the company’s stock.

BSAC stock opened at $19.89 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.80 and a debt-to-equity ratio of 3.89. The business has a 50 day moving average price of $20.49 and a two-hundred day moving average price of $19.43. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 2.05 and a beta of 0.69. Banco Santander-Chile has a twelve month low of $15.37 and a twelve month high of $22.95.

The business also recently declared an annual dividend, which was paid on Thursday, May 5th. Shareholders of record on Friday, April 22nd were paid a $0.909 dividend. The ex-dividend date of this dividend was Thursday, April 21st. This represents a yield of 4.27%. Banco Santander-Chile’s dividend payout ratio is 38.29%.

Banco Santander-Chile Company Profile (Get Rating)

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking products and 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.

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