Banco Santander-Chile (NYSE:BSAC) Short Interest Up 15.0% in October

Banco Santander-Chile (NYSE:BSAC) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 394,400 shares, an increase of 15.0% from the September 30th total of 342,900 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 268,000 shares, the short-interest ratio is presently 1.5 days.

Banco Santander-Chile Stock Performance

Shares of NYSE BSAC traded down $0.45 during midday trading on Tuesday, reaching $20.15. 139,073 shares of the company traded hands, compared to its average volume of 287,850. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.42 and a beta of 0.86. The stock has a 50-day moving average price of $20.33 and a 200 day moving average price of $19.62. Banco Santander-Chile has a 52 week low of $16.89 and a 52 week 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.

Banco Santander-Chile (NYSE:BSAC) last issued its quarterly earnings results on Wednesday, July 31st. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). The firm had revenue of $599.94 million for the quarter, compared to the consensus estimate of $693.44 million. Banco Santander-Chile had a net margin of 11.84% and a return on equity of 11.87%. Sell-side analysts anticipate that Banco Santander-Chile will post 1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Berenberg Bank upgraded Banco Santander-Chile to a “hold” rating in a report on Tuesday, July 30th. StockNews.com upgraded Banco Santander-Chile from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group raised Banco Santander-Chile from a “sell” rating to a “neutral” rating and upped their target price for the company from $18.00 to $21.00 in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.00.

Institutional Trading of Banco Santander-Chile

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSAC. PNC Financial Services Group Inc. boosted its position in shares of Banco Santander-Chile by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,569 shares of the bank’s stock worth $167,000 after buying an additional 815 shares during the period. Ballentine Partners LLC bought a new stake in shares of Banco Santander-Chile during the 2nd quarter worth $195,000. Frank Rimerman Advisors LLC bought a new position in shares of Banco Santander-Chile in the second quarter worth about $248,000. Blue Trust Inc. increased its position in Banco Santander-Chile by 32.3% in the 2nd quarter. Blue Trust Inc. now owns 13,021 shares of the bank’s stock worth $258,000 after buying an additional 3,179 shares during the period. Finally, Banco BTG Pactual S.A. acquired a new position in Banco Santander-Chile during the 1st quarter valued at $285,000. 6.42% of the stock is owned by institutional investors and hedge funds.

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.