Banco Santander Chile (NYSE:BSAC) Hits New 12-Month High – Here’s Why

Banco Santander Chile (NYSE:BSAC)’s stock price hit a new 52-week high on Monday . The company traded as high as $31.67 and last traded at $31.3440, with a volume of 104322 shares trading hands. The stock had previously closed at $31.33.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup cut Banco Santander Chile from a “buy” rating to a “hold” rating in a report on Friday, November 7th. UBS Group boosted their price target on shares of Banco Santander Chile from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, November 10th. Wall Street Zen lowered shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Banco Santander Chile from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a research report on Wednesday, October 8th. Four 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, the stock presently has a consensus rating of “Reduce” and a consensus target price of $27.67.

Banco Santander Chile Price Performance

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.51. The stock’s 50-day moving average price is $29.82 and its 200-day moving average price is $26.63. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.78 and a beta of 0.58.

Banco Santander Chile (NYSE:BSAC) last posted its quarterly earnings data on Monday, November 17th. The bank reported $0.99 earnings per share for the quarter. The firm had revenue of $740.10 million during the quarter. Banco Santander Chile had a net margin of 24.74% and a return on equity of 22.18%. Equities research analysts anticipate that Banco Santander Chile will post 2.07 earnings per share for the current year.

Institutional Trading of Banco Santander Chile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Banco Santander Chile by 23.4% during the 1st quarter. Invesco Ltd. now owns 37,702 shares of the bank’s stock worth $860,000 after purchasing an additional 7,158 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Banco Santander Chile by 182.4% during the first quarter. Vident Advisory LLC now owns 40,330 shares of the bank’s stock worth $920,000 after buying an additional 26,048 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Banco Santander Chile by 457.1% during the first quarter. AQR Capital Management LLC now owns 107,076 shares of the bank’s stock worth $2,441,000 after buying an additional 87,856 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in Banco Santander Chile by 31.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 43,388 shares of the bank’s stock valued at $989,000 after buying an additional 10,420 shares during the period. Finally, Jane Street Group LLC boosted its stake in Banco Santander Chile by 140.0% in the first quarter. Jane Street Group LLC now owns 47,222 shares of the bank’s stock valued at $1,077,000 after acquiring an additional 27,549 shares during the last quarter. 6.42% of the stock is currently owned by institutional investors and hedge funds.

About Banco Santander Chile

Banco Santander Chile (NYSE:BSAC) is one of the leading financial institutions in Chile and a key component of the global Santander Group. The bank offers a comprehensive range of banking and financial services, including retail and commercial lending, deposit accounts, credit cards, wealth management, insurance products and corporate banking solutions. Headquartered in Santiago, it operates an extensive network of branches, ATMs and digital platforms to serve individual customers, small and medium-sized enterprises and large corporations across the country.

Originally founded as Banco de Santiago in the late 1970s, the institution became part of the Santander Group following the privatization wave in Chile during the late 1980s.