Banco Santander Chile (NYSE:BSAC) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in Banco Santander Chile (NYSE:BSAC) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,669 shares of the bank’s stock after purchasing an additional 4,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Banco Santander Chile were worth $1,543,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BSAC. D. E. Shaw & Co. Inc. increased its stake in Banco Santander Chile by 247.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 274,114 shares of the bank’s stock valued at $5,170,000 after purchasing an additional 195,189 shares during the period. Renaissance Technologies LLC increased its stake in Banco Santander Chile by 21.4% in the fourth quarter. Renaissance Technologies LLC now owns 659,627 shares of the bank’s stock valued at $12,441,000 after purchasing an additional 116,200 shares during the period. Marshall Wace LLP increased its stake in shares of Banco Santander Chile by 44.9% during the fourth quarter. Marshall Wace LLP now owns 365,478 shares of the bank’s stock worth $6,893,000 after acquiring an additional 113,325 shares during the period. Northern Trust Corp increased its stake in shares of Banco Santander Chile by 123.1% during the fourth quarter. Northern Trust Corp now owns 147,392 shares of the bank’s stock worth $2,780,000 after acquiring an additional 81,322 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Banco Santander Chile by 1.6% during the fourth quarter. JPMorgan Chase & Co. now owns 3,988,659 shares of the bank’s stock worth $75,226,000 after buying an additional 61,242 shares during the period. 6.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BSAC. Wall Street Zen downgraded shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a report on Tuesday, May 13th. UBS Group upped their price objective on shares of Banco Santander Chile from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, June 2nd. Finally, Bank of America downgraded shares of Banco Santander Chile from a “neutral” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.00.

Banco Santander Chile Stock Performance

NYSE:BSAC opened at $25.13 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 2.61. The company has a market cap of $11.84 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.73 and a beta of 0.68. Banco Santander Chile has a fifty-two week low of $18.19 and a fifty-two week high of $25.53. The firm’s 50 day moving average is $24.61 and its two-hundred day moving average is $22.48.

Banco Santander Chile (NYSE:BSAC) last posted its quarterly earnings results on Wednesday, April 30th. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. Banco Santander Chile had a net margin of 23.00% and a return on equity of 21.48%. The company had revenue of $767.62 million for the quarter, compared to the consensus estimate of $717.38 billion. Analysts expect that Banco Santander Chile will post 2.07 EPS for the current year.

Banco Santander Chile Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd were given a $1.349 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a dividend yield of 4.8%. This is a positive change from Banco Santander Chile’s previous annual dividend of $1.25. Banco Santander Chile’s dividend payout ratio is presently 43.23%.

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.