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

Banco Santander-Chile (NYSE:BSAC – Get 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.

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