Banco Santander-Chile (BSAC) Lowered to “Hold” at Zacks Investment Research

Banco Santander-Chile (NYSE:BSAC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Banco Santiago is the largest bank in Chile, in terms of assets with Ch$4,088 billion (approximately US$9.86 billion ) as of March 31, 1997. The bank is the result of the merger of two of the largest institutions in the Chilean banking system, Banco O’Higgins S.A., mainly a corporate bank, and Banco de Santiago S.A., mainly focused in consumer and middle-market lending. “

Several other research firms have also weighed in on BSAC. BidaskClub lowered shares of Banco Santander-Chile from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Citigroup lowered shares of Banco Santander-Chile from a “buy” rating to a “neutral” rating in a research note on Friday, December 1st. Finally, Scotia Howard Weill lowered shares of Banco Santander-Chile from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Banco Santander-Chile presently has an average rating of “Hold” and a consensus target price of $28.00.

Banco Santander-Chile (NYSE BSAC) traded down $0.44 during mid-day trading on Monday, reaching $32.89. 299,144 shares of the company’s stock traded hands, compared to its average volume of 385,000. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.75. Banco Santander-Chile has a 12-month low of $21.21 and a 12-month high of $33.44. The company has a market capitalization of $15,702.26, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.61 and a beta of 0.69.

Several institutional investors have recently added to or reduced their stakes in BSAC. Invictus RG bought a new position in shares of Banco Santander-Chile during the third quarter worth about $217,000. Timber Hill LLC bought a new position in shares of Banco Santander-Chile during the third quarter worth about $252,000. Stevens Capital Management LP bought a new position in shares of Banco Santander-Chile during the third quarter worth about $286,000. Financial Counselors Inc. grew its position in shares of Banco Santander-Chile by 2.8% during the second quarter. Financial Counselors Inc. now owns 12,623 shares of the bank’s stock worth $321,000 after acquiring an additional 346 shares during the last quarter. Finally, TD Asset Management Inc. bought a new position in shares of Banco Santander-Chile during the third quarter worth about $341,000. Institutional investors and hedge funds own 16.66% of the company’s stock.

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About Banco Santander-Chile

Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank’s segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations.

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