Franklin Resources Inc. Buys 33,291 Shares of Banco Santander-Chile (NYSE:BSAC)

Franklin Resources Inc. lifted its position in Banco Santander-Chile (NYSE:BSAC) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,164,490 shares of the bank’s stock after acquiring an additional 33,291 shares during the period. Franklin Resources Inc. owned approximately 0.67% of Banco Santander-Chile worth $63,859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BSAC. Mirabella Financial Services LLP acquired a new stake in Banco Santander-Chile in the third quarter worth $700,000. AGF Management Ltd. raised 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 period. Itau Unibanco Holding S.A. lifted its holdings in Banco Santander-Chile by 900.5% during the second quarter. Itau Unibanco Holding S.A. now owns 165,285 shares of the bank’s stock worth $3,107,000 after acquiring an additional 148,764 shares in the last quarter. RWC Asset Management LLP grew its stake in Banco Santander-Chile by 60.5% in the second quarter. RWC Asset Management LLP now owns 796,552 shares of the bank’s stock valued at $14,999,000 after acquiring an additional 300,257 shares during the period. Finally, abrdn plc increased its holdings in shares of Banco Santander-Chile by 76.4% in the third quarter. abrdn plc now owns 861,295 shares of the bank’s stock worth $18,036,000 after acquiring an additional 372,936 shares in the last quarter. Institutional investors own 6.42% of the company’s stock.

Banco Santander-Chile Stock Down 0.5 %

BSAC stock opened at $19.36 on Tuesday. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $9.12 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.41 and a beta of 0.87. Banco Santander-Chile has a fifty-two week low of $17.73 and a fifty-two week high of $21.43. The business has a 50-day moving average of $19.64 and a 200-day moving average of $19.74.

Analyst Upgrades and Downgrades

BSAC has been the subject of several research analyst reports. The Goldman Sachs Group upgraded Banco Santander-Chile from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $18.00 to $21.00 in a research report on Tuesday, August 20th. Bank of America cut shares of Banco Santander-Chile from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $21.00 in a report on Monday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.33.

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.