Panagora Asset Management Inc. Sells 11,034 Shares of Banco Santander-Chile (NYSE:BSAC)

Panagora Asset Management Inc. cut its stake in Banco Santander-Chile (NYSE:BSAC) by 50.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,983 shares of the bank’s stock after selling 11,034 shares during the period. Panagora Asset Management Inc.’s holdings in Banco Santander-Chile were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of Banco Santander-Chile by 29.6% in the first quarter. Advisors Asset Management Inc. now owns 3,849 shares of the bank’s stock valued at $115,000 after purchasing an additional 878 shares during the period. SG Americas Securities LLC bought a new position in shares of Banco Santander-Chile in the second quarter valued at about $216,000. Qtron Investments LLC bought a new position in shares of Banco Santander-Chile in the first quarter valued at about $387,000. Marshall Wace North America L.P. bought a new position in Banco Santander-Chile during the first quarter worth about $475,000. Finally, Bank of Montreal Can increased its position in Banco Santander-Chile by 121,425.0% during the first quarter. Bank of Montreal Can now owns 19,444 shares of the bank’s stock worth $578,000 after acquiring an additional 19,428 shares during the period. 12.62% of the stock is currently owned by institutional investors.

BSAC has been the topic of a number of recent research reports. HSBC raised shares of Banco Santander-Chile from a “reduce” rating to a “hold” rating in a research report on Thursday, July 18th. Zacks Investment Research lowered shares of Banco Santander-Chile from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Goldman Sachs Group initiated coverage on shares of Banco Santander-Chile in a research report on Tuesday. They set a “neutral” rating and a $30.00 price target on the stock. ValuEngine lowered shares of Banco Santander-Chile from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Scotia Howard Weill raised shares of Banco Santander-Chile from a “sector perform” rating to an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Banco Santander-Chile has an average rating of “Hold” and a consensus price target of $31.00.



NYSE:BSAC traded up $0.21 during mid-day trading on Friday, reaching $29.19. 1,054 shares of the company’s stock were exchanged, compared to its average volume of 197,748. The firm has a market capitalization of $13.43 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.65. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.75 and a current ratio of 1.82. Banco Santander-Chile has a one year low of $27.06 and a one year high of $33.32. The business’s fifty day simple moving average is $28.52 and its two-hundred day simple moving average is $29.34.

Banco Santander-Chile (NYSE:BSAC) last announced its quarterly earnings data on Friday, July 26th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.08. The firm had revenue of $646.11 million for the quarter, compared to the consensus estimate of $683.74 million. Banco Santander-Chile had a net margin of 22.24% and a return on equity of 17.28%. As a group, equities research analysts forecast that Banco Santander-Chile will post 1.89 EPS for the current year.

Banco Santander-Chile Profile

Banco Santander-Chile provides commercial and retail banking products and services in Chile. It operates through Retail Banking, Middle-Market, and Global Corporate Banking segments. The company offers checking accounts and savings products; consumer, auto, commercial, mortgage, and government-guaranteed loans; credit and debit cards; and Chilean peso and foreign currency denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines.

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Institutional Ownership by Quarter for Banco Santander-Chile (NYSE:BSAC)

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