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

Key Points

• Banco Santander Chile reached a new 52-week high of $26.83, marking notable trading activity with a volume of 169,682 shares.
• Research analysts have issued a consensus rating of "Reduce" for the stock, with a price target of $24.00, following multiple rating changes.
• The company reported earnings of $0.60 per share for the last quarter, which missed consensus estimates, alongside a return on equity of 22.17% and a net margin of 24.32%.

Banco Santander Chile (NYSE:BSAC - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $26.83 and last traded at $26.79, with a volume of 169682 shares trading hands. The stock had previously closed at $26.03.

Wall Street Analyst Weigh In

BSAC has been the topic of several research analyst reports. Wall Street Zen cut shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Banco Santander Chile in a report on Wednesday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $24.00.

Banco Santander Chile Price Performance

The business's 50 day moving average is $24.89 and its two-hundred day moving average is $24.32. The firm has a market cap of $12.63 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.00 and a beta of 0.73. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.58.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last announced its 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 return on equity of 22.17% and a net margin of 24.32%.The firm had revenue of $757.38 million for the quarter, compared to the consensus estimate of $758.17 million. As a group, analysts anticipate that Banco Santander Chile will post 2.07 earnings per share for the current year.

Institutional Investors Weigh In On Banco Santander Chile

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Candriam S.C.A. bought a new stake in shares of Banco Santander Chile during the first quarter worth about $25,116,000. TT International Asset Management LTD bought a new stake in shares of Banco Santander Chile during the third quarter worth about $24,685,000. RWC Asset Management LLP increased its position in shares of Banco Santander Chile by 45.3% during the first quarter. RWC Asset Management LLP now owns 826,754 shares of the bank's stock worth $18,850,000 after acquiring an additional 257,895 shares in the last quarter. Aberdeen Group plc increased its position in shares of Banco Santander Chile by 10.8% during the second quarter. Aberdeen Group plc now owns 738,038 shares of the bank's stock worth $18,525,000 after acquiring an additional 72,203 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Banco Santander Chile by 34.8% during the second quarter. Qube Research & Technologies Ltd now owns 439,613 shares of the bank's stock worth $11,087,000 after purchasing an additional 113,408 shares during the last quarter. 6.42% of the stock is owned by institutional investors.

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.

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