Short Interest in Banco Santander-Chile (NYSE:BSAC) Drops By 8.3%

Banco Santander-Chile (NYSE:BSACGet Rating) was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totalling 1,770,000 shares, a decline of 8.3% from the July 31st total of 1,930,000 shares. Based on an average daily volume of 549,500 shares, the days-to-cover ratio is currently 3.2 days.

Hedge Funds Weigh In On Banco Santander-Chile

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners boosted its holdings in Banco Santander-Chile by 6.6% in the first quarter. Boston Partners now owns 42,887 shares of the bank’s stock valued at $181,000 after purchasing an additional 2,642 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in Banco Santander-Chile by 61.8% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 158,600 shares of the bank’s stock valued at $2,584,000 after purchasing an additional 60,600 shares in the last quarter. Cardinal Capital Management boosted its holdings in Banco Santander-Chile by 2.3% in the first quarter. Cardinal Capital Management now owns 46,451 shares of the bank’s stock valued at $1,049,000 after purchasing an additional 1,030 shares in the last quarter. American Century Companies Inc. boosted its holdings in Banco Santander-Chile by 60.2% in the fourth quarter. American Century Companies Inc. now owns 26,804 shares of the bank’s stock valued at $437,000 after purchasing an additional 10,073 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its holdings in shares of Banco Santander-Chile by 7.0% in the fourth quarter. Pinebridge Investments L.P. now owns 90,180 shares of the bank’s stock valued at $1,469,000 after acquiring an additional 5,937 shares during the period. 9.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BSAC shares. Credit Suisse Group dropped their price target on shares of Banco Santander-Chile to $18.00 in a research note on Monday, August 22nd. UBS Group raised shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and set a $17.00 target price on the stock in a research note on Thursday, June 30th. Itau BBA Securities cut shares of Banco Santander-Chile from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research note on Tuesday, June 7th. StockNews.com raised shares of Banco Santander-Chile from a “sell” rating to a “hold” rating in a research note on Friday, May 20th. Finally, Itaú Unibanco cut shares of Banco Santander-Chile from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research note on Tuesday, June 7th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.40.

Banco Santander-Chile Stock Up 5.5 %

Shares of NYSE:BSAC opened at $16.74 on Friday. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market capitalization of $7.89 billion, a PE ratio of 6.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.70. The firm’s 50-day moving average is $15.74 and its two-hundred day moving average is $18.61. Banco Santander-Chile has a 1 year low of $13.77 and a 1 year high of $22.95.

Banco Santander-Chile (NYSE:BSACGet Rating) last issued its quarterly earnings results on Friday, July 29th. The bank reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Banco Santander-Chile had a net margin of 22.60% and a return on equity of 21.11%. The company had revenue of $668.33 million for the quarter, compared to analyst estimates of $751.67 million. Analysts predict that Banco Santander-Chile will post 2.16 EPS for the current year.

About Banco Santander-Chile

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

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