Advisors Asset Management Inc. Sells 1,164 Shares of Banco Santander-Chile (NYSE:BSAC)

Advisors Asset Management Inc. reduced its position in Banco Santander-Chile (NYSE:BSAC) by 12.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,991 shares of the bank’s stock after selling 1,164 shares during the period. Advisors Asset Management Inc.’s holdings in Banco Santander-Chile were worth $166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. abrdn plc boosted its stake in Banco Santander-Chile by 76.4% in the third quarter. abrdn plc now owns 861,295 shares of the bank’s stock valued at $18,036,000 after acquiring an additional 372,936 shares in the last quarter. RWC Asset Management LLP lifted its holdings in shares of Banco Santander-Chile by 60.5% during the 2nd 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 during the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Banco Santander-Chile by 900.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 165,285 shares of the bank’s stock worth $3,107,000 after purchasing an additional 148,764 shares in the last quarter. DNB Asset Management AS grew its stake in Banco Santander-Chile by 35.8% during the 2nd quarter. DNB Asset Management AS now owns 166,763 shares of the bank’s stock worth $3,140,000 after buying an additional 43,949 shares during the last quarter. Finally, AGF Management Ltd. grew its stake in Banco Santander-Chile by 6.5% during the 2nd quarter. AGF Management Ltd. now owns 402,781 shares of the bank’s stock worth $7,584,000 after buying an additional 24,697 shares during the last quarter. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Banco Santander-Chile Price Performance

NYSE BSAC opened at $18.97 on Friday. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 0.39 and a beta of 0.87. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.82 and a quick ratio of 1.82. The stock’s fifty day moving average price is $19.87 and its 200 day moving average price is $19.77. Banco Santander-Chile has a 1 year low of $17.73 and a 1 year high of $21.43.

Analysts Set New Price Targets

BSAC has been the subject of a number of research analyst reports. StockNews.com upgraded Banco Santander-Chile from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. The Goldman Sachs Group raised shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.50.

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.