Banco Santander Chile (NYSE:BSAC) Shares Pass Below Fifty Day Moving Average - What's Next?

Key Points

• Price action: BSAC slipped below its 50‑day moving average of $33.51, trading as low as $33.03 and last at $33.4290 on volume of 429,972 shares (down ~0.5%).
• Analyst view mixed: Two Buys, four Holds and one Sell leave an average rating of "Hold" with an average target of $35.50, while recent notable moves include JPMorgan's upgrade to Overweight ($40) and Goldman Sachs' downgrade to Strong Sell.
• Fundamentals and ownership: Q1 EPS was $0.63 with ROE 21.51% and net margin 24.57%; market cap $15.75B and P/E 14.53, and institutional investors (notably Millennium Management) have materially increased positions.

Banco Santander Chile (NYSE:BSAC - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $33.51 and traded as low as $33.03. Banco Santander Chile shares last traded at $33.4290, with a volume of 429,972 shares traded.

Wall Street Analysts Forecast Growth

BSAC has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded Banco Santander Chile from a "neutral" rating to an "overweight" rating and set a $40.00 target price for the company in a research note on Monday, March 30th. Morgan Stanley set a $38.00 price target on Banco Santander Chile in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Banco Santander Chile in a research report on Monday. The Goldman Sachs Group lowered shares of Banco Santander Chile from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 13th. Finally, Bank of America raised shares of Banco Santander Chile from an "underperform" rating to a "neutral" rating and set a $35.00 target price on the stock in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.50.

Banco Santander Chile Trading Down 0.5%

The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.77 and a current ratio of 1.77. The business's 50 day moving average price is $33.51 and its 200-day moving average price is $31.90. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.02 and a beta of 0.55.

Banco Santander Chile (NYSE:BSAC - Get Free Report) last announced its quarterly earnings data on Monday, April 13th. The bank reported $0.63 earnings per share for the quarter. Banco Santander Chile had a return on equity of 21.51% and a net margin of 24.57%.The firm had revenue of $787.51 million during the quarter. Equities analysts expect that Banco Santander Chile will post 2.72 EPS for the current year.

Institutional Investors Weigh In On Banco Santander Chile

A number of institutional investors have recently made changes to their positions in BSAC. Corient Private Wealth LLC acquired a new stake in shares of Banco Santander Chile during the 4th quarter valued at approximately $292,000. Invesco Ltd. boosted its holdings in Banco Santander Chile by 18.3% in the fourth quarter. Invesco Ltd. now owns 43,551 shares of the bank's stock worth $1,355,000 after purchasing an additional 6,745 shares during the period. Vident Advisory LLC increased its stake in Banco Santander Chile by 6.6% during the fourth quarter. Vident Advisory LLC now owns 32,634 shares of the bank's stock valued at $1,015,000 after purchasing an additional 2,007 shares during the last quarter. Millennium Management LLC increased its stake in Banco Santander Chile by 221.0% during the fourth quarter. Millennium Management LLC now owns 271,827 shares of the bank's stock valued at $8,457,000 after purchasing an additional 187,151 shares during the last quarter. Finally, Laird Norton Wetherby Trust Company LLC acquired a new stake in shares of Banco Santander Chile during the fourth quarter worth $531,000. 6.42% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.