Franklin Resources Inc. Grows Stock Holdings in Banco Santander-Chile (NYSE:BSAC)

Franklin Resources Inc. grew its position in shares of Banco Santander-Chile (NYSE:BSAC - Free Report) by 1.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,164,490 shares of the bank's stock after acquiring an additional 33,291 shares during the quarter. Franklin Resources Inc. owned about 0.67% of Banco Santander-Chile worth $63,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirabella Financial Services LLP purchased a new stake in shares of Banco Santander-Chile in the third quarter valued at $700,000. AGF Management Ltd. lifted its stake in shares of 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 acquiring an additional 24,697 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Banco Santander-Chile by 900.5% in the second quarter. Itau Unibanco Holding S.A. now owns 165,285 shares of the bank's stock worth $3,107,000 after purchasing an additional 148,764 shares during the last quarter. RWC Asset Management LLP grew its stake in Banco Santander-Chile by 60.5% in the 2nd quarter. RWC Asset Management LLP now owns 796,552 shares of the bank's stock worth $14,999,000 after acquiring an additional 300,257 shares in the last quarter. Finally, abrdn plc increased its position in shares of Banco Santander-Chile by 76.4% during 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 during the period. 6.42% of the stock is currently owned by institutional investors.

Banco Santander-Chile Stock Down 1.3 %

Shares of NYSE BSAC traded down $0.26 during mid-day trading on Tuesday, reaching $19.07. 166,983 shares of the company were exchanged, compared to its average volume of 282,724. Banco Santander-Chile has a 1 year low of $17.73 and a 1 year high of $21.43. The firm has a 50-day moving average of $19.64 and a 200 day moving average of $19.74. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.41 and a beta of 0.87. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.70.

Analyst Ratings Changes

Several research analysts have commented on the company. The Goldman Sachs Group upgraded Banco Santander-Chile from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $18.00 to $21.00 in a report on Tuesday, August 20th. Bank of America downgraded Banco Santander-Chile from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $22.00 to $21.00 in a report on Monday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Banco Santander-Chile presently has an average rating of "Hold" and a consensus 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.