Itaú Unibanco Downgrades Banco Santander-Chile (NYSE:BSAC) to Market Perform

Banco Santander-Chile (NYSE:BSACGet Rating) was downgraded by research analysts at Itaú Unibanco from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. They currently have a $22.00 price objective on the bank’s stock. Itaú Unibanco’s price target would indicate a potential upside of 11.90% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. StockNews.com raised shares of Banco Santander-Chile from a “sell” rating to a “hold” rating in a research report on Friday, May 20th. Zacks Investment Research raised shares of 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. Itau BBA Securities lowered shares of Banco Santander-Chile from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a report on Tuesday. JPMorgan Chase & Co. lowered shares of 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. Finally, Credit Suisse Group upgraded Banco Santander-Chile from a “neutral” rating to an “outperform” rating and increased their target price for the company from $19.00 to $24.00 in a research report on Wednesday, March 2nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Banco Santander-Chile presently has an average rating of “Hold” and an average target price of $23.00.

Shares of NYSE BSAC traded down $0.04 during midday trading on Tuesday, hitting $19.66. 18,446 shares of the company’s stock traded hands, compared to its average volume of 691,903. Banco Santander-Chile has a 1 year low of $15.37 and a 1 year high of $22.95. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.69. The company has a debt-to-equity ratio of 3.89, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a fifty day moving average of $20.30 and a 200 day moving average of $19.49.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in Banco Santander-Chile by 5.3% in the third quarter. American Century Companies Inc. now owns 16,731 shares of the bank’s stock worth $331,000 after acquiring an additional 849 shares in the last quarter. Atlas Capital Advisors LLC boosted its holdings in Banco Santander-Chile by 16.7% in the first quarter. Atlas Capital Advisors LLC now owns 6,400 shares of the bank’s stock worth $145,000 after acquiring an additional 917 shares in the last quarter. Cardinal Capital Management boosted its holdings in Banco Santander-Chile by 2.3% in the first quarter. Cardinal Capital Management now owns 46,451 shares of the bank’s stock worth $1,049,000 after acquiring an additional 1,030 shares in the last quarter. Bank of America Corp DE boosted its holdings in Banco Santander-Chile by 10.3% in the first quarter. Bank of America Corp DE now owns 13,467 shares of the bank’s stock worth $304,000 after acquiring an additional 1,253 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Banco Santander-Chile by 144.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,131 shares of the bank’s stock worth $35,000 after acquiring an additional 1,259 shares in the last quarter. Institutional investors own 10.65% of the company’s stock.

About Banco Santander-Chile (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.

Featured Stories

Stock Target Advisor logo

Analyst Recommendations for Banco Santander-Chile (NYSE:BSAC)

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.