Banco Santander-Chile (NYSE:BSAC) Sees Significant Decline in Short Interest

by · The Cerbat Gem

Banco Santander-Chile (NYSE:BSAC – Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 342,900 shares, a decline of 38.0% from the September 15th total of 553,400 shares. Based on an average trading volume of 254,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

BSAC has been the topic of a number of analyst reports. Berenberg Bank upgraded Banco Santander-Chile to a “hold” rating in a research note on Tuesday, July 30th. StockNews.com upgraded shares of Banco Santander-Chile from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group upgraded shares of Banco Santander-Chile from a “sell” rating to a “neutral” rating and increased their price target for the company from $18.00 to $21.00 in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Banco Santander-Chile has a consensus rating of “Hold” and a consensus price target of $20.48.

Read Our Latest Stock Analysis on BSAC

Institutional Trading of Banco Santander-Chile

A number of hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in Banco Santander-Chile by 10.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,569 shares of the bank’s stock worth $167,000 after purchasing an additional 815 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Banco Santander-Chile during the second quarter worth $195,000. Blue Trust Inc. lifted its holdings in shares of Banco Santander-Chile by 32.3% during the second quarter. Blue Trust Inc. now owns 13,021 shares of the bank’s stock worth $258,000 after buying an additional 3,179 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Banco Santander-Chile in the second quarter valued at about $248,000. Finally, Privium Fund Management B.V. grew its stake in shares of Banco Santander-Chile by 15.1% in the first quarter. Privium Fund Management B.V. now owns 13,818 shares of the bank’s stock valued at $274,000 after acquiring an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 6.42% of the company’s stock.

Banco Santander-Chile Stock Performance

BSAC opened at $20.06 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 3.60. Banco Santander-Chile has a 12-month low of $16.89 and a 12-month high of $21.43. The business has a 50 day moving average of $20.17 and a 200-day moving average of $19.59. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.41 and a beta of 0.86.

Banco Santander-Chile (NYSE:BSAC – Get Free Report) last posted its quarterly 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). 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 the consensus estimate of $693.44 million. On average, equities research analysts expect that Banco Santander-Chile will post 1.82 earnings per share for the current year.

About Banco Santander-Chile

(Get Free Report)

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.

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