Banco Santander Chile (NYSE:BSAC) Reaches New 1-Year High – Here’s What Happened

Banco Santander Chile (NYSE:BSAC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $27.86 and last traded at $27.79, with a volume of 898 shares traded. The stock had previously closed at $27.79.

Analysts Set New Price Targets

BSAC has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Banco Santander Chile from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $26.00.

Banco Santander Chile Stock Down 0.6%

The company’s 50 day simple moving average is $25.64 and its 200-day simple moving average is $24.60. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.58. The firm has a market cap of $13.12 billion, a P/E ratio of 11.61, a PEG ratio of 1.05 and a beta of 0.73.

Banco Santander Chile (NYSE:BSAC) last released its quarterly earnings data on Thursday, July 31st. The bank reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.02). Banco Santander Chile had a net margin of 24.32% and a return on equity of 22.17%. The company had revenue of $757.38 million for the quarter, compared to analysts’ expectations of $758.17 million. Research analysts forecast that Banco Santander Chile will post 2.07 earnings per share for the current fiscal year.

Institutional Trading of Banco Santander Chile

Several large investors have recently modified their holdings of BSAC. Candriam S.C.A. purchased a new stake in Banco Santander Chile during the first quarter valued at approximately $25,116,000. TT International Asset Management LTD bought a new stake in shares of Banco Santander Chile during the 3rd quarter valued at $24,685,000. RWC Asset Management LLP increased its stake in shares of Banco Santander Chile by 45.3% in the 1st quarter. RWC Asset Management LLP now owns 826,754 shares of the bank’s stock worth $18,850,000 after purchasing an additional 257,895 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Banco Santander Chile by 120.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 276,728 shares of the bank’s stock worth $6,979,000 after purchasing an additional 151,310 shares during the period. Finally, Strs Ohio purchased a new position in Banco Santander Chile during the first quarter valued at $2,990,000. Institutional investors own 6.42% of the company’s stock.

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.