State of New Jersey Common Pension Fund D Lowers Holdings in Banco Santander-Chile (NYSE:BSAC)

State of New Jersey Common Pension Fund D trimmed its position in shares of Banco Santander-Chile (NYSE:BSAC) by 33.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 57,803 shares of the bank’s stock after selling 29,488 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Banco Santander-Chile were worth $1,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. RWC Asset Management LLP increased its holdings in Banco Santander-Chile by 60.5% in the 2nd quarter. RWC Asset Management LLP now owns 796,552 shares of the bank’s stock worth $14,999,000 after buying an additional 300,257 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Banco Santander-Chile in the first quarter worth approximately $929,000. DNB Asset Management AS raised its holdings in shares of 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 purchasing an additional 43,949 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in Banco Santander-Chile during the fourth quarter valued at approximately $585,000. Finally, Sei Investments Co. boosted its holdings 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 purchasing an additional 25,237 shares during the last quarter. 6.42% of the stock is currently owned by institutional investors.

Banco Santander-Chile Stock Performance

NYSE BSAC opened at $20.75 on Thursday. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.83 and a quick ratio of 1.86. Banco Santander-Chile has a 1-year low of $16.89 and a 1-year high of $21.19. The business has a 50 day simple moving average of $20.14 and a two-hundred day simple moving average of $19.56. The stock has a market capitalization of $9.77 billion, a PE ratio of 17.73, a P/E/G ratio of 0.42 and a beta of 0.86.

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

Analysts Set New Price Targets

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

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.