Banco Santander Chile (NYSE:BSAC) Sets New 12-Month High on Analyst Upgrade

Banco Santander Chile (NYSE:BSAC)’s share price hit a new 52-week high during mid-day trading on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock traded as high as $31.38 and last traded at $31.2620, with a volume of 355551 shares trading hands. The stock had previously closed at $30.69.

Several other analysts have also commented on the stock. Citigroup lowered shares of Banco Santander Chile from a “buy” rating to a “hold” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco Santander Chile in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Banco Santander Chile from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, UBS Group boosted their target price on Banco Santander Chile from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, November 10th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $27.67.

Institutional Trading of Banco Santander Chile

A number of hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group raised its position in Banco Santander Chile by 54,450.0% during the first quarter. Brooklyn Investment Group now owns 1,091 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,089 shares in the last quarter. Simplex Trading LLC bought a new position in shares of Banco Santander Chile during the 2nd quarter valued at about $25,000. Raymond James Financial Inc. purchased a new position in shares of Banco Santander Chile during the 2nd quarter valued at about $33,000. EverSource Wealth Advisors LLC lifted its position in Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock worth $39,000 after buying an additional 1,329 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Banco Santander Chile by 380.5% in the second quarter. Hantz Financial Services Inc. now owns 3,532 shares of the bank’s stock worth $89,000 after buying an additional 2,797 shares in the last quarter. 6.42% of the stock is owned by institutional investors.

Banco Santander Chile Stock Performance

The firm has a market cap of $14.73 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.77 and a beta of 0.58. The company has a 50 day simple moving average of $29.28 and a 200-day simple moving average of $26.31. 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 (EPS) for the quarter. Banco Santander Chile had a return on equity of 22.18% and a net margin of 24.74%.The business had revenue of $740.10 million for the quarter. As a group, equities research analysts anticipate that Banco Santander Chile will post 2.07 EPS for the current year.

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.