Banco Santander Chile (NYSE:BSAC) Reaches New 1-Year High - Here's What Happened

Key Points

• Banco Santander Chile's share price recently reached a new 52-week high of $26.62, with a trading volume of 30,915 shares.
• Analysts have mixed views on the stock; UBS upgraded the price target to $24.00 while Wall Street Zen downgraded it from "hold" to "sell," reflecting an average rating of "Reduce."
• Despite a revenue of $757.38 million for the last quarter, the bank missed earnings estimates with $0.60 per share, falling short of the consensus of $0.62.

Banco Santander Chile (NYSE:BSAC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.62 and last traded at $26.57, with a volume of 30915 shares changing hands. The stock had previously closed at $26.36.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Friday, September 5th. UBS Group boosted their target price on Banco Santander Chile from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Banco Santander Chile currently has an average rating of "Reduce" and an average target price of $24.00.

Banco Santander Chile Stock Up 1.1%

The business has a 50-day simple moving average of $24.27 and a two-hundred day simple moving average of $24.05. The stock has a market capitalization of $12.55 billion, a P/E ratio of 11.10, a PEG ratio of 0.96 and a beta of 0.75. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 2.61.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The bank reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.02). Banco Santander Chile had a net margin of 24.32% and a return on equity of 22.21%. The company had revenue of $757.38 million during the quarter, compared to the consensus estimate of $758.17 million. Equities research analysts forecast that Banco Santander Chile will post 2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

Several large investors have recently made changes to their positions in the company. Cardinal Capital Management lifted its stake in shares of Banco Santander Chile by 0.5% during the first quarter. Cardinal Capital Management now owns 99,099 shares of the bank's stock valued at $2,259,000 after acquiring an additional 472 shares during the period. Simplex Trading LLC bought a new stake in Banco Santander Chile in the second quarter valued at about $25,000. Brooklyn Investment Group increased its holdings in Banco Santander Chile by 54,450.0% in 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 during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Banco Santander Chile by 5.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,789 shares of the bank's stock valued at $600,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Banco Santander Chile in the second quarter valued at about $33,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.