SPX Gestao de Recursos Ltda Increases Stake in Banco Santander-Chile

SPX Gestao de Recursos Ltda has significantly increased its holdings in Banco Santander-Chile (NYSE:BSAC - Free Report) by 171.7% during the fourth quarter of the year. This information comes from its latest Form 13F filing with the Securities and Exchange Commission (SEC). Following this purchase, the firm owns a total of 96,355 shares of the bank after acquiring an additional 60,889 shares during the quarter. The value of SPX Gestao de Recursos Ltda's holdings in Banco Santander-Chile is reported to be around $1,817,000 according to the most recent SEC filing.

In addition to SPX, several other institutional investors have also made changes to their positions in Banco Santander-Chile recently. For example, Mirae Asset Global Investments Co. Ltd. boosted its stake in the bank's shares by 41.3% during the fourth quarter and currently owns 3,089 shares valued at approximately $58,000 after acquiring an additional 903 shares during that period. Meanwhile, Robeco Institutional Asset Management B.V. increased its holdings by 42.6%, owning 126,092 shares valued at $2,378,000 after an acquisition of 37,660 additional shares. Furthermore, R Squared Ltd entered a new position in Banco Santander-Chile, valued at about $61,000, while Blue Trust Inc. grew its stake by 11.0%, owning 18,415 shares valued at $382,000 after acquiring an additional 1,831 shares. Lastly, FNY Investment Advisers LLC also entered the market with a new position worth about $364,000. Currently, institutional investors hold 6.42% of the stock.

Market Analysis

In a separate analysis, Bank of America has downgraded Banco Santander-Chile from a "buy" rating to a "neutral" rating while lowering their price target from $22.00 to $21.00 in a research note issued on December 16th. Among financial analysts, four have given the stock a hold rating, while one analyst has issued a buy recommendation. Data from MarketBeat indicates that Banco Santander-Chile holds a consensus rating of "Hold" along with an average price target of $21.33.

Latest Performance Metrics

Stock Performance Overview

Banco Santander-Chile's shares opened at $21.97 on a recent Tuesday. The bank has a market capitalization of $10.35 billion, with a price-to-earnings ratio of 11.32, a PEG ratio of 0.96, and a beta coefficient of 0.83. Financial ratios show a quick ratio of 1.79, a current ratio of 1.79, and a debt-to-equity ratio standing at 2.70. Over the past year, the stock has seen a low of $17.73 and a high of $22.89. Its 50-day moving average is $20.66, and the 200-day moving average stands at $20.10.

In their last quarterly earnings report on January 31st, Banco Santander-Chile announced earnings per share (EPS) of $0.61, which missed analysts' consensus estimate of $0.66 by $0.05. The bank reported a return on equity of 19.15% along with a net margin of 19.16%. Analysts forecast an average EPS of 2.07 for the entire current fiscal year.

Company Overview

Banco Santander-Chile operates alongside its subsidiaries, providing various commercial and retail banking services throughout Chile. The bank functions through several segments, including Retail Banking, Middle-Market, Corporate Investment Banking, and Corporate Activities. Its services encompass debit and credit cards, checking and savings accounts, alongside consumer, automobile, commercial, mortgage, and government-guaranteed loans. Additionally, it offers financing for various commercial transactions and trade, as well as credit lines and mortgage financing services.

Investment, Banking, Stocks