Allspring Global Investments Holdings LLC Trims Stock Position in Banco Santander-Chile (NYSE:BSAC)

Allspring Global Investments Holdings LLC cut its holdings in Banco Santander-Chile (NYSE:BSAC) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,803,769 shares of the bank’s stock after selling 19,452 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.60% of Banco Santander-Chile worth $55,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSAC. abrdn plc lifted its stake in shares of Banco Santander-Chile by 0.4% during the fourth quarter. abrdn plc now owns 730,572 shares of the bank’s stock worth $14,239,000 after buying an additional 2,987 shares during the period. AGF Management Ltd. purchased a new position in shares of Banco Santander-Chile in the fourth quarter worth about $7,991,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Banco Santander-Chile by 11.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 249,224 shares of the bank’s stock worth $4,857,000 after purchasing an additional 25,393 shares during the period. DNB Asset Management AS acquired a new stake in shares of Banco Santander-Chile during the fourth quarter worth about $2,669,000. Finally, ABS Direct Equity Fund LLC purchased a new stake in Banco Santander-Chile in the fourth quarter valued at approximately $2,327,000. 6.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Itau BBA Securities upgraded shares of Banco Santander-Chile from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Wednesday, June 12th. StockNews.com lowered shares of Banco Santander-Chile from a “hold” rating to a “sell” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.48.

Banco Santander-Chile Price Performance

NYSE:BSAC opened at $18.59 on Wednesday. The company has a debt-to-equity ratio of 4.21, a current ratio of 1.86 and a quick ratio of 1.86. The company has a 50 day moving average price of $18.92 and a 200-day moving average price of $19.10. Banco Santander-Chile has a 1-year low of $16.89 and a 1-year high of $21.81. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 0.39 and a beta of 0.86.

Banco Santander-Chile (NYSE:BSAC) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The firm had revenue of $524.08 million during the quarter, compared to analysts’ expectations of $544.26 million. Banco Santander-Chile had a net margin of 9.58% and a return on equity of 10.06%. Equities research analysts forecast that Banco Santander-Chile will post 1.85 EPS for the current year.

Banco Santander-Chile Profile

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking 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.