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

Shares of Banco Santander-Chile (NYSE:BSAC) reached a new 52-week high during trading 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 Analyst Weigh In

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

Banco Santander-Chile Stock Down 2.2 %

The business has a 50-day moving average price of $21.14 and a 200-day moving average price of $20.19. The stock has a market cap of $10.81 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.96 and a beta of 0.83. 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 posted its quarterly earnings data on Friday, January 31st. The bank reported $0.61 earnings per share (EPS) 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%. As a group, analysts forecast that Banco Santander-Chile will post 2.07 earnings per share for the current year.

Institutional Trading of Banco Santander-Chile

A number of institutional investors have recently made changes to their positions in BSAC. Tower Research Capital LLC TRC boosted its position in 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 acquiring an additional 1,552 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Banco Santander-Chile by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,089 shares of the bank’s stock worth $58,000 after purchasing an additional 903 shares during the last quarter. R Squared Ltd acquired a new position in shares of Banco Santander-Chile during the 4th quarter worth approximately $61,000. Atlas Capital Advisors Inc. boosted its holdings in shares of Banco Santander-Chile by 12.3% during the 4th quarter. Atlas Capital Advisors Inc. now owns 7,897 shares of the bank’s stock worth $149,000 after purchasing an additional 863 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of Banco Santander-Chile during the 3rd quarter worth approximately $212,000. 6.42% of the stock is owned by institutional investors and hedge funds.

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.