SPX Gestao de Recursos Ltda Takes $736,000 Position in Banco Santander-Chile (NYSE:BSAC)

SPX Gestao de Recursos Ltda purchased a new stake in Banco Santander-Chile (NYSE:BSAC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,466 shares of the bank's stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSAC. Ballentine Partners LLC purchased a new position in shares of Banco Santander-Chile during the second quarter valued at $195,000. Natixis Advisors LLC acquired a new position in shares of Banco Santander-Chile in the 3rd quarter valued at about $212,000. Frank Rimerman Advisors LLC acquired a new position in shares of Banco Santander-Chile in the 2nd quarter valued at about $248,000. Blue Trust Inc. lifted its position in shares of Banco Santander-Chile by 32.3% in the second quarter. Blue Trust Inc. now owns 13,021 shares of the bank's stock worth $258,000 after purchasing an additional 3,179 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Banco Santander-Chile by 30.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,434 shares of the bank's stock worth $366,000 after purchasing an additional 4,515 shares during the period. Institutional investors and hedge funds own 6.42% of the company's stock.

Analyst Ratings Changes

Separately, 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 company from $18.00 to $21.00 in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.50.

Banco Santander-Chile Stock Down 1.2 %

Shares of BSAC traded down $0.23 during midday trading on Friday, reaching $19.45. 122,443 shares of the stock were exchanged, compared to its average volume of 283,179. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.41 and a beta of 0.87. The firm has a 50 day simple moving average of $19.65 and a 200-day simple moving average of $19.73. Banco Santander-Chile has a 12-month low of $17.73 and a 12-month high of $21.43. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.70.

Banco Santander-Chile Company 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.