JPMorgan Lowers Banco Santander Chile Price Target to $39

JPMorgan Chase & Co. has lowered its price target for Banco Santander Chile (NYSE: BSAC) from $43.00 to $39.00, according to a report released on Tuesday. Despite this reduction, the brokerage maintains an "overweight" rating on the bank's stock, suggesting a potential upside of 19.93% from the company's previous close.

Other brokerages have also recently weighed in on BSAC. Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating, while Citigroup upgraded it from "hold" to "buy". Weiss Ratings improved its rating from "hold (c)" to "hold (c+)", and Wall Street Zen moved it from "sell" to "hold". Meanwhile, The Goldman Sachs Group increased its target price from $29.00 to $33.00 but kept a "sell" rating.

Analysts have mixed opinions on BSAC, with one rating it a "strong buy", three as "buy", four as "hold", and one as "sell". The consensus rating is currently "hold", with an average target price of $35.20. On Tuesday, BSAC traded down $0.18, hitting $32.52, with a trading volume of 153,129 shares.

Banco Santander Chile has a market cap of $15.32 billion and reported $0.87 EPS for the quarter ending June 30th. The bank's net margin stands at 27.04%, and its return on equity is 22.94%. Institutional investors own 6.42% of the stock, with several hedge funds recently adjusting their positions, including Nykredit A S, ABS Direct Equity Fund LLC, and INCA Investments LLC.