Banco Santander-Chile (NYSE:BSAC) Holdings Cut by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of Banco Santander-Chile (NYSE:BSAC) by 28.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 459,800 shares of the bank’s stock after selling 185,227 shares during the period. Renaissance Technologies LLC’s holdings in Banco Santander-Chile were worth $8,658,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BSAC. RWC Asset Management LLP grew its stake in Banco Santander-Chile by 60.5% in the second quarter. RWC Asset Management LLP now owns 796,552 shares of the bank’s stock valued at $14,999,000 after purchasing an additional 300,257 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Banco Santander-Chile in the first quarter worth approximately $929,000. DNB Asset Management AS raised its position in Banco Santander-Chile by 35.8% during the second quarter. DNB Asset Management AS now owns 166,763 shares of the bank’s stock valued at $3,140,000 after acquiring an additional 43,949 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Banco Santander-Chile in the fourth quarter valued at approximately $585,000. Finally, Sei Investments Co. grew its position in Banco Santander-Chile by 8.4% in the first quarter. Sei Investments Co. now owns 327,191 shares of the bank’s stock worth $6,488,000 after acquiring an additional 25,237 shares in the last quarter. 6.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BSAC. The Goldman Sachs Group raised shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $18.00 to $21.00 in a research note on Tuesday, August 20th. StockNews.com raised Banco Santander-Chile from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Itau BBA Securities raised Banco Santander-Chile from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Wednesday, June 12th. Finally, Berenberg Bank upgraded Banco Santander-Chile to a “hold” rating in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.48.

Banco Santander-Chile Trading Up 2.9 %

Shares of NYSE:BSAC opened at $20.88 on Wednesday. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.86 and a current ratio of 1.83. The stock’s 50-day moving average is $20.14 and its 200-day moving average is $19.55. The company has a market cap of $9.84 billion, a P/E ratio of 17.85, a P/E/G ratio of 0.43 and a beta of 0.86. Banco Santander-Chile has a 52-week low of $16.89 and a 52-week high of $21.19.

Banco Santander-Chile (NYSE:BSAC) last released its earnings results on Wednesday, July 31st. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Banco Santander-Chile had a net margin of 11.84% and a return on equity of 11.87%. The business had revenue of $599.94 million during the quarter, compared to analyst estimates of $693.44 million. Equities research analysts predict that Banco Santander-Chile will post 1.82 earnings per share for the current year.

About Banco Santander-Chile

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.