Goldman Sachs Group cuts Banco Santander-Chile (NYSE:BSAC) target price to $16.00

Banco Santander-Chile (NYSE: BSAC – Get a rating) had its price target reduced by the Goldman Sachs Group from $18.00 to $16.00 in a report released on Friday, Benzinga reports. The company currently has a “neutral” rating on the bank’s shares. The Goldman Sachs Group target price indicates a potential upside of 10.73% from the company’s previous close.

Several other research companies also commented on the BSAC. Citigroup downgraded Banco Santander-Chile from a “buy” rating to a “neutral” rating in a Tuesday, September 13 report. StockNews.com launched a hedge on Banco Santander-Chile shares in a report on Wednesday. They have set a “holding” rating on the stock. UBS Group downgraded shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and set a price target of $17.00 for the company in a Thursday, June 30 report. Finally, Credit Suisse Group lowered its price target on Banco Santander-Chile shares to $18.00 in a Monday, August 22 research note. According to data from MarketBeat.com, Banco Santander-Chile currently has a consensus rating of “Hold” and a consensus target price of $19.67.

Price performance of Banco Santander-Chile

NYSE BSAC shares opened at $14.45 on Friday. Banco Santander-Chile has a 52-week low of $13.37 and a 52-week high of $22.95. The company’s 50-day moving average price is $15.46 and its 200-day moving average price is $17.45. The company has a quick ratio of 1.99, a current ratio of 1.99 and a leverage ratio of 4.40. The company has a market capitalization of $6.81 billion, a P/E ratio of 6.18, a P/E/G ratio of 1.48 and a beta of 0.72.

Banco Santander-Chile (NYSE: BSAC – Get a rating) last released its results on Friday, July 29. The bank reported earnings per share (EPS) of $0.66 for the quarter, beating consensus analyst estimates of $0.60 by $0.06. The company posted revenue of $668.33 million in the quarter, versus a consensus estimate of $751.67 million. Banco Santander-Chile achieved a net margin of 22.60% and a return on equity of 21.63%. On average, sell-side analysts expect Banco Santander-Chile to post earnings per share of 2.17 for the current year.

Institutional investors weigh on Banco Santander-Chile

Several institutional investors have recently bought and sold shares of BSAC. Cardinal Capital Management increased its stake in Banco Santander-Chile shares by 1.7% in the second quarter. Cardinal Capital Management now owns 47,221 shares of the bank worth $769,000 after acquiring 770 additional shares in the last quarter. Atlas Capital Advisors LLC increased its stake in Banco Santander-Chile shares by 16.7% in the first quarter. Atlas Capital Advisors LLC now owns 6,400 shares of the bank worth $145,000 after buying 917 additional shares last quarter. Bank of America Corp DE increased its stake in Banco Santander-Chile by 10.3% in the 1st quarter. Bank of America Corp DE now owns 13,467 shares of the bank valued at $304,000 after acquiring 1,253 additional shares in the last quarter. Credit Suisse AG increased its stake in Banco Santander-Chile by 8.2% in the second quarter. Credit Suisse AG now owns 20,791 shares in the bank worth $339,000 after buying an additional 1,584 shares last quarter. Finally, Investors Research Corp increased its stake in Banco Santander-Chile by 8.7% in the 1st quarter. Investors Research Corp now owns 20,325 shares of the bank worth $459,000 after buying an additional 1,625 shares in the last quarter. 9.47% of the shares are currently held by institutional investors and hedge funds.

Banco Santander-Chile Company Profile

(Get a rating)

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking products and services in Chile. It operates through the Retail Banking, Middle Market, Corporate Investment Banking and Corporate Activities segments. The company offers debit and credit cards, checking accounts and savings products. consumer, auto, commercial, mortgage and government guaranteed loans; and loans denominated in Chilean pesos and foreign currencies to finance various commercial transactions, exchanges, forward exchange contracts and lines of credit, as well as mortgage financing services.

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