INCA Investments LLC Cuts Stock Position in Banco Santander-Chile (NYSE:BSAC)

INCA Investments LLC reduced its position in Banco Santander-Chile (NYSE:BSAC - Free Report) by 22.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,531,232 shares of the bank's stock after selling 452,839 shares during the period. Banco Santander-Chile accounts for approximately 13.6% of INCA Investments LLC's portfolio, making the stock its 3rd largest holding. INCA Investments LLC owned approximately 0.33% of Banco Santander-Chile worth $31,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BSAC. Sei Investments Co. lifted its holdings in shares of Banco Santander-Chile by 8.4% in the first quarter. Sei Investments Co. now owns 327,191 shares of the bank's stock worth $6,488,000 after buying an additional 25,237 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Banco Santander-Chile by 35.8% in the second quarter. DNB Asset Management AS now owns 166,763 shares of the bank's stock worth $3,140,000 after buying an additional 43,949 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Banco Santander-Chile by 6.5% in the second 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 in the last quarter. Itau Unibanco Holding S.A. lifted 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 buying an additional 148,764 shares in the last quarter. Finally, RWC Asset Management LLP lifted its holdings in shares of Banco Santander-Chile by 60.5% in the second quarter. RWC Asset Management LLP now owns 796,552 shares of the bank's stock worth $14,999,000 after buying an additional 300,257 shares in the last quarter. 6.42% of the stock is currently owned by institutional investors.

Banco Santander-Chile Price Performance

NYSE BSAC traded down $0.23 on Tuesday, reaching $19.22. 132,803 shares of the company's stock traded hands, compared to its average volume of 288,441. Banco Santander-Chile has a 12 month low of $17.58 and a 12 month high of $21.43. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a 50-day simple moving average of $20.13 and a 200 day simple moving average of $19.72. The stock has a market cap of $9.05 billion, a PE ratio of 10.92, a P/E/G ratio of 0.40 and a beta of 0.87.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Berenberg Bank upgraded shares of Banco Santander-Chile to a "hold" rating in a research report on Tuesday, July 30th. The Goldman Sachs Group upgraded shares of Banco Santander-Chile from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $18.00 to $21.00 in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Banco Santander-Chile from a "sell" rating to a "hold" rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.50.

About Banco Santander-Chile

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.