Cardinal Capital Management Boosts Stake in Banco Santander-Chile (NYSE:BSAC)

Cardinal Capital Management boosted its stake in shares of Banco Santander-Chile (NYSE:BSAC) by 19.3% in the first quarter, Holdings Channel reports. The institutional investor owned 93,768 shares of the bank’s stock after acquiring an additional 15,142 shares during the period. Cardinal Capital Management’s holdings in Banco Santander-Chile were worth $1,859,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AGF Management Ltd. acquired a new position in shares of Banco Santander-Chile during the fourth quarter worth $7,991,000. DNB Asset Management AS acquired a new position in shares of Banco Santander-Chile during the fourth quarter worth $2,669,000. ABS Direct Equity Fund LLC acquired a new position in shares of Banco Santander-Chile during the fourth quarter worth $2,327,000. SPX Gestao de Recursos Ltda acquired a new position in shares of Banco Santander-Chile in the 4th quarter valued at $585,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Banco Santander-Chile by 11.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 249,224 shares of the bank’s stock valued at $4,857,000 after acquiring an additional 25,393 shares during the period. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Banco Santander-Chile Price Performance

Shares of BSAC opened at $18.67 on Friday. The business’s 50-day moving average is $18.89 and its two-hundred day moving average is $19.13. The company has a market capitalization of $8.80 billion, a P/E ratio of 15.96, a P/E/G ratio of 0.38 and a beta of 0.87. The company has a debt-to-equity ratio of 4.21, a quick ratio of 1.86 and a current ratio of 1.86. Banco Santander-Chile has a fifty-two week low of $16.89 and a fifty-two week high of $21.81.

Banco Santander-Chile (NYSE:BSAC) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). The company had revenue of $524.08 million for the quarter, compared to analyst estimates of $544.26 million. Banco Santander-Chile had a return on equity of 10.06% and a net margin of 9.58%. Research analysts predict that Banco Santander-Chile will post 1.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com downgraded Banco Santander-Chile from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Itau BBA Securities raised Banco Santander-Chile from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.48.

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.