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

Banco Santander Chile (NYSE:BSAC)’s share price hit a new 52-week high on Monday . The stock traded as high as $31.81 and last traded at $31.7850, with a volume of 46432 shares trading hands. The stock had previously closed at $31.20.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup lowered Banco Santander Chile from a “buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a research report on Wednesday, October 8th. UBS Group lifted their price objective on shares of Banco Santander Chile from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, November 10th. Wall Street Zen lowered shares of Banco Santander Chile from a “hold” rating to a “sell” rating in a research note on Tuesday, December 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Banco Santander Chile from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $27.67.

Banco Santander Chile Price Performance

The company has a market cap of $15.25 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 0.74 and a beta of 0.56. The stock has a fifty day moving average price of $30.23 and a 200-day moving average price of $26.93. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.84 and a quick ratio of 1.84.

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

Institutional Trading of Banco Santander Chile

Several institutional investors have recently made changes to their positions in BSAC. American Century Companies Inc. lifted its holdings in shares of Banco Santander Chile by 31.6% during the 2nd quarter. American Century Companies Inc. now owns 271,733 shares of the bank’s stock valued at $6,853,000 after buying an additional 65,264 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Banco Santander Chile by 462,111.1% during the second quarter. SBI Securities Co. Ltd. now owns 124,797 shares of the bank’s stock valued at $3,147,000 after acquiring an additional 124,770 shares in the last quarter. XTX Topco Ltd bought a new position in Banco Santander Chile during the second quarter valued at approximately $983,000. Savant Capital LLC acquired a new stake in Banco Santander Chile in the second quarter valued at approximately $226,000. Finally, TT International Asset Management LTD bought a new stake in Banco Santander Chile in the third quarter worth approximately $24,685,000. 6.42% of the stock is currently owned by institutional investors and hedge funds.

Banco Santander Chile Company Profile

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.