Banco Santander Chile (NYSE:BSAC) Hits New 52-Week High After Analyst Upgrade

Banco Santander Chile (NYSE:BSAC)’s share price hit a new 52-week high during 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 traded. The stock had previously closed at $30.69.

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

Institutional Investors Weigh In On Banco Santander Chile

A number of large investors have recently bought and sold shares of BSAC. Simplex Trading LLC bought a new position in Banco Santander Chile during the second quarter valued at about $25,000. Brooklyn Investment Group increased its holdings in shares of Banco Santander Chile by 54,450.0% during the 1st quarter. Brooklyn Investment Group now owns 1,091 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,089 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Banco Santander Chile during the 2nd quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Banco Santander Chile by 577.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,329 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in Banco Santander Chile by 380.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,532 shares of the bank’s stock worth $89,000 after purchasing an additional 2,797 shares during the last quarter. 6.42% of the stock is currently owned by institutional investors.

Banco Santander Chile Stock Up 1.9%

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 business has a 50-day simple moving average of $29.37 and a 200-day simple moving average of $26.36. The stock has a market cap of $14.73 billion, a P/E ratio of 13.48, a PEG ratio of 0.77 and a beta of 0.58.

Banco Santander Chile (NYSE:BSAC) last released its quarterly earnings results on Monday, November 17th. The bank reported $0.99 EPS for the quarter. The company had revenue of $740.10 million for the quarter. Banco Santander Chile had a net margin of 24.74% and a return on equity of 22.18%. Analysts expect 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.