Banco Santander-Chile (NYSE:BSAC) Reaches New 52-Week High – What’s Next?

Banco Santander-Chile (NYSE:BSAC)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $21.56 and last traded at $21.53, with a volume of 11800 shares. The stock had previously closed at $21.24.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered Banco Santander-Chile from a “buy” rating to a “neutral” rating and cut their price objective for the stock 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 company. Based on data from MarketBeat.com, Banco Santander-Chile has an average rating of “Hold” and a consensus target price of $21.33.

Banco Santander-Chile Price Performance

The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.70. The stock’s fifty day moving average price is $19.32 and its two-hundred day moving average price is $19.76. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.94 and a beta of 0.86.

Banco Santander-Chile (NYSE:BSAC) last issued its earnings results 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 return on equity of 19.15% and a net margin of 19.16%. Equities research analysts expect that Banco Santander-Chile will post 2.07 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BSAC. JPMorgan Chase & Co. increased its stake in Banco Santander-Chile by 2.0% in the third quarter. JPMorgan Chase & Co. now owns 3,927,417 shares of the bank’s stock valued at $81,533,000 after purchasing an additional 75,888 shares during the period. Franklin Resources Inc. boosted its stake in shares of Banco Santander-Chile by 1.1% in the third quarter. Franklin Resources Inc. now owns 3,164,490 shares of the bank’s stock valued at $63,859,000 after buying an additional 33,291 shares in the last quarter. abrdn plc lifted its stake in shares of Banco Santander-Chile by 76.4% in the third quarter. abrdn plc now owns 861,295 shares of the bank’s stock valued at $18,036,000 after purchasing an additional 372,936 shares during the period. Itau Unibanco Holding S.A. increased its holdings in Banco Santander-Chile by 79.6% in the third quarter. Itau Unibanco Holding S.A. now owns 296,922 shares of the bank’s stock valued at $6,164,000 after buying an additional 131,637 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Banco Santander-Chile by 25.3% during the 3rd quarter. State Street Corp now owns 293,049 shares of the bank’s stock worth $6,084,000 after acquiring an additional 59,215 shares in the last quarter. Institutional investors and hedge funds 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.