Banco Santander Chile (NYSE:BSAC) Share Price Crosses Below 50 Day Moving Average – What’s Next?

Banco Santander Chile (NYSE:BSAC) shares passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $34.11 and traded as low as $32.55. Banco Santander Chile shares last traded at $33.0730, with a volume of 508,670 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on BSAC. Wall Street Zen upgraded Banco Santander Chile from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Citigroup upgraded Banco Santander Chile from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. reduced their price objective on Banco Santander Chile from $43.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings raised Banco Santander Chile from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, The Goldman Sachs Group increased their target price on Banco Santander Chile from $29.00 to $33.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.20.

Banco Santander Chile Stock Performance

The stock’s 50 day simple moving average is $34.04 and its two-hundred day simple moving average is $33.30. The company has a market capitalization of $15.04 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.82 and a beta of 0.49. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.72 and a quick ratio of 0.48.

Banco Santander Chile (NYSE:BSAC) last released its quarterly earnings results on Tuesday, October 13th. The bank reported $0.44 EPS for the quarter. Banco Santander Chile had a net margin of 27.04% and a return on equity of 22.94%. The business had revenue of $624.15 million for the quarter. As a group, research analysts expect that Banco Santander Chile will post 2.91 earnings per share for the current year.

Institutional Investors Weigh In On Banco Santander Chile

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its stake in shares of Banco Santander Chile by 8.8% during the first quarter. Sequoia Financial Advisors LLC now owns 7,645 shares of the bank’s stock valued at $255,000 after acquiring an additional 618 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Banco Santander Chile by 63.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank’s stock valued at $56,000 after acquiring an additional 653 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Banco Santander Chile by 6.9% in the first quarter. PNC Financial Services Group Inc. now owns 11,629 shares of the bank’s stock worth $388,000 after purchasing an additional 755 shares during the period. QRG Capital Management Inc. increased its position in Banco Santander Chile by 13.0% in the second quarter. QRG Capital Management Inc. now owns 7,245 shares of the bank’s stock worth $239,000 after purchasing an additional 833 shares during the period. Finally, Novem Group raised its holdings in Banco Santander Chile by 2.8% during the 3rd quarter. Novem Group now owns 32,669 shares of the bank’s stock worth $1,090,000 after purchasing an additional 896 shares during the last quarter. 6.42% of the stock is owned by institutional investors and hedge funds.

Banco Santander Chile Company Profile

Banco Santander Chile (NYSE: BSAC) is a commercial bank headquartered in Santiago, Chile. It provides banking and financial services to individuals, small and midsize businesses, corporations, and institutional clients throughout Chile. The bank operates as part of the global Santander Group, headquartered in Spain.

Its products and services include checking and savings accounts, credit and debit cards, consumer and residential mortgage loans, commercial lending, working-capital financing, and other forms of credit.