Banco Santander-Chile (NYSE:BSAC) Hits New 52-Week High – Here’s Why

Banco Santander-Chile (NYSE:BSAC)’s share price hit a new 52-week high on Wednesday . The company traded as high as $22.39 and last traded at $22.42, with a volume of 28925 shares traded. The stock had previously closed at $22.01.

Analyst Ratings Changes

Separately, Bank of America lowered Banco Santander-Chile from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $21.00 in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Banco Santander-Chile has an average rating of “Hold” and a consensus price target of $21.33.

Banco Santander-Chile Stock Up 1.3 %

The company has a market cap of $10.51 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 0.94 and a beta of 0.86. The stock’s 50-day moving average is $19.44 and its 200-day moving average is $19.77. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.70.

Banco Santander-Chile (NYSE:BSAC) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.05). Banco Santander-Chile had a net margin of 19.16% and a return on equity of 19.15%. On average, analysts anticipate that Banco Santander-Chile will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. abrdn plc increased its position in shares of Banco Santander-Chile by 76.4% during the third quarter. abrdn plc now owns 861,295 shares of the bank’s stock worth $18,036,000 after acquiring an additional 372,936 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in Banco Santander-Chile by 79.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 296,922 shares of the bank’s stock valued at $6,164,000 after purchasing an additional 131,637 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Banco Santander-Chile during the 3rd quarter worth approximately $1,724,000. JPMorgan Chase & Co. raised its stake in shares of Banco Santander-Chile by 2.0% in the third quarter. JPMorgan Chase & Co. now owns 3,927,417 shares of the bank’s stock worth $81,533,000 after purchasing an additional 75,888 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda raised its stake in shares of Banco Santander-Chile by 171.7% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 96,355 shares of the bank’s stock worth $1,817,000 after purchasing an additional 60,889 shares during the last quarter. Institutional investors own 6.42% of the company’s stock.

About Banco Santander-Chile

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.