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

Posted by on Jun 1st, 2022

Banco Santander-Chile (NYSE:BSAC – Get 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.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for Banco Santander-Chile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Santander-Chile and related companies with MarketBeat.com's FREE daily email newsletter.