Banco Santander-Chile (BSAC) Releases Earnings Results, Beats Expectations By $0.05 EPS

Banco Santander-Chile (NASDAQ:BSAC) issued its quarterly earnings data on Friday. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05, Morningstar.com reports. The firm had revenue of $704.02 million during the quarter, compared to the consensus estimate of $458.92 million. Banco Santander-Chile had a return on equity of 19.57% and a net margin of 29.03%. During the same period last year, the company earned $0.40 EPS.

Shares of Banco Santander-Chile (NASDAQ BSAC) opened at 27.54 on Friday. The firm has a market capitalization of $12.97 billion and a P/E ratio of 17.21. Banco Santander-Chile has a 12 month low of $20.22 and a 12 month high of $27.58. The company’s 50 day moving average price is $25.74 and its 200-day moving average price is $24.01.

A number of institutional investors have recently added to or reduced their stakes in BSAC. Comerica Bank increased its position in Banco Santander-Chile by 12.7% in the fourth quarter. Comerica Bank now owns 26,703 shares of the bank’s stock valued at $583,000 after buying an additional 3,010 shares during the period. UBS Asset Management Americas Inc. increased its position in Banco Santander-Chile by 19.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 581,822 shares of the bank’s stock valued at $12,724,000 after buying an additional 93,468 shares during the period. Macquarie Group Ltd. increased its position in Banco Santander-Chile by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 36,570 shares of the bank’s stock valued at $800,000 after buying an additional 1,800 shares during the period. Harding Loevner LP increased its position in Banco Santander-Chile by 2.4% in the first quarter. Harding Loevner LP now owns 6,150,156 shares of the bank’s stock valued at $154,246,000 after buying an additional 146,400 shares during the period. Finally, Capstone Asset Management Co. increased its position in Banco Santander-Chile by 8.3% in the first quarter. Capstone Asset Management Co. now owns 354,032 shares of the bank’s stock valued at $8,879,000 after buying an additional 27,179 shares during the period.

BSAC has been the subject of a number of recent analyst reports. Zacks Investment Research raised Banco Santander-Chile from a “sell” rating to a “hold” rating and set a $28.00 price objective for the company in a research report on Thursday, April 6th. Credit Suisse Group reissued a “neutral” rating and set a $26.00 price objective (up from $25.00) on shares of Banco Santander-Chile in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) raised their price objective on Banco Santander-Chile from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 2nd. Finally, BidaskClub downgraded Banco Santander-Chile from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $25.25.

About Banco Santander-Chile

Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank’s segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations.