Banco Santander-Chile (NYSE:BSAC) Reaches New 12-Month High – Here’s What Happened

Shares of Banco Santander-Chile (NYSE:BSAC) hit a new 52-week high on Wednesday . The stock traded as high as $23.63 and last traded at $22.95, with a volume of 456178 shares changing hands. The stock had previously closed at $23.47.

Wall Street Analysts Forecast Growth

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

Banco Santander-Chile Price Performance

The stock’s 50-day simple moving average is $21.32 and its 200 day simple moving average is $20.23. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.70. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.96 and a beta of 0.83.

Banco Santander-Chile (NYSE:BSAC) last posted its earnings results on Friday, January 31st. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that Banco Santander-Chile will post 2.07 EPS for the current fiscal year.

Institutional Trading of Banco Santander-Chile

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in shares of Banco Santander-Chile by 601.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,810 shares of the bank’s stock worth $34,000 after purchasing an additional 1,552 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Banco Santander-Chile by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,089 shares of the bank’s stock worth $58,000 after buying an additional 903 shares during the period. R Squared Ltd purchased a new stake in shares of Banco Santander-Chile during the fourth quarter worth approximately $61,000. Atlas Capital Advisors Inc. increased its stake in shares of Banco Santander-Chile by 12.3% during the fourth quarter. Atlas Capital Advisors Inc. now owns 7,897 shares of the bank’s stock worth $149,000 after buying an additional 863 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in shares of Banco Santander-Chile during the third quarter worth approximately $212,000. Institutional investors and hedge funds 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.