Banco Santander Chile (NYSE:BSAC) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Banco Santander Chile (NYSE:BSAC)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $32.47 and traded as low as $30.25. Banco Santander Chile shares last traded at $30.3540, with a volume of 197,723 shares.

Analysts Set New Price Targets

Several research firms have recently commented on BSAC. Morgan Stanley set a $38.00 price target on shares of Banco Santander Chile in a research report on Wednesday, March 11th. Itau BBA Securities raised shares of Banco Santander Chile from a “market perform” rating to an “outperform” rating in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco Santander Chile in a report on Monday, April 20th. Wall Street Zen raised shares of Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Erste Group Bank raised shares of Banco Santander Chile to a “strong-buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

Banco Santander Chile Stock Down 1.8%

The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 0.73 and a beta of 0.52. The stock’s fifty day simple moving average is $32.39 and its two-hundred day simple moving average is $32.54.

Banco Santander Chile (NYSE:BSAC) last issued its quarterly earnings results on Monday, April 13th. The bank reported $0.63 earnings per share for the quarter. Banco Santander Chile had a net margin of 24.95% and a return on equity of 21.00%. The company had revenue of $791.52 million during the quarter. On average, sell-side analysts anticipate that Banco Santander Chile will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Banco Santander Chile

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Banco Santander Chile by 1.6% during the first quarter. Bank of America Corp DE now owns 298,791 shares of the bank’s stock valued at $9,980,000 after buying an additional 4,663 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Banco Santander Chile by 63.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank’s stock valued at $56,000 after buying an additional 653 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Banco Santander Chile by 11.4% during the first quarter. Quantinno Capital Management LP now owns 73,632 shares of the bank’s stock valued at $2,459,000 after buying an additional 7,537 shares in the last quarter. First Trust Advisors LP purchased a new stake in Banco Santander Chile during the first quarter valued at about $338,000. Finally, PNC Financial Services Group Inc. lifted its stake in Banco Santander Chile by 6.9% during the first quarter. PNC Financial Services Group Inc. now owns 11,629 shares of the bank’s stock valued at $388,000 after buying an additional 755 shares in the last quarter. 6.42% of the stock is 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.