Banco Santander-Chile (BSAC) Rating Lowered to Sell at Zacks Investment Research

Banco Santander-Chile (NASDAQ:BSAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Banco Santiago is the largest bank in Chile, in terms of assets with Ch$4,088 billion (approximately US$9.86 billion ) as of March 31, 1997. The bank is the result of the merger of two of the largest institutions in the Chilean banking system, Banco O’Higgins S.A., mainly a corporate bank, and Banco de Santiago S.A., mainly focused in consumer and middle-market lending. “

Separately, Bank of America Corp. restated an “underperform” rating and set a $20.00 target price on shares of Banco Santander-Chile in a report on Wednesday, September 7th.

Shares of Banco Santander-Chile (NASDAQ:BSAC) opened at 20.84 on Tuesday. Banco Santander-Chile has a 12 month low of $15.69 and a 12 month high of $22.62. The company has a 50-day moving average price of $21.31 and a 200-day moving average price of $19.82. The stock has a market cap of $9.82 billion and a price-to-earnings ratio of 13.02.

Banco Santander-Chile (NASDAQ:BSAC) last announced its earnings results on Thursday, July 28th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.01. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, analysts expect that Banco Santander-Chile will post $1.59 EPS for the current fiscal year.

About Banco Santander-Chile

Banco Santander-Chile is a Chilean bank. The Company provides commercial and retail banking services to its customers. Its commercial and retail banking services include Chilean peso and foreign currency denominated loans to finance a range of commercial transactions, trade, foreign currency forward contracts and credit lines and a line of retail banking services, including mortgage financing.

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