Banco Santander Chile (NYSE:BSAC) Sets New 12-Month High - Here's Why

Key Points

• Banco Santander Chile (NYSE:BSAC) reached a new 12-month high of $26.98, marking a notable achievement in its stock performance amid trading activity.
• Recent analyst ratings have been mixed, with Wall Street Zen downgrading the stock from "hold" to "sell" while Weiss Ratings maintained a "hold (c)" rating, leading to an average rating of "Reduce" with a consensus price target of $24.00.
• The bank reported earnings of $0.60 per share for the last quarter, falling short of analyst expectations, contributing to concerns about its financial outlook.

Shares of Banco Santander Chile (NYSE:BSAC - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $26.98 and last traded at $26.81, with a volume of 37398 shares. The stock had previously closed at $26.74.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BSAC shares. Wall Street Zen cut shares of Banco Santander Chile from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Banco Santander Chile in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $24.00.

Banco Santander Chile Stock Performance

The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $12.71 billion, a P/E ratio of 11.23, a PEG ratio of 0.99 and a beta of 0.73. The stock's fifty day moving average price is $25.18 and its 200-day moving average price is $24.42.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $0.60 earnings per share (EPS) 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 22.17%. The business had revenue of $757.38 million during the quarter, compared to analyst estimates of $758.17 million. As a group, research analysts anticipate that Banco Santander Chile will post 2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Santander Chile

Several institutional investors and hedge funds have recently made changes to their positions in BSAC. Cardinal Capital Management boosted its position in shares of Banco Santander Chile by 0.5% in 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 during the second quarter worth about $25,000. Brooklyn Investment Group lifted 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 worth $25,000 after purchasing an additional 1,089 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Banco Santander Chile by 5.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,789 shares of the bank's stock worth $600,000 after buying an additional 1,275 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Banco Santander Chile in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 6.42% of the company's stock.

About Banco Santander Chile

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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