Banco Santander-Chile (NYSE:BSAC) Reaches New 12-Month High - Here's What Happened

Shares of Banco Santander-Chile (NYSE:BSAC - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $23.63 and last traded at $22.95, with a volume of 456178 shares trading hands. The stock had previously closed at $23.47.

Analysts Set New Price Targets

Separately, Bank of America downgraded Banco Santander-Chile from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $22.00 to $21.00 in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.33.

Banco Santander-Chile Trading Down 0.3 %

The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.70. The company has a fifty day moving average of $21.41 and a two-hundred day moving average of $20.25. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.96 and a beta of 0.83.

Banco Santander-Chile (NYSE:BSAC - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.05). Banco Santander-Chile had a return on equity of 19.15% and a net margin of 19.16%. On average, research analysts expect that Banco Santander-Chile will post 2.07 EPS for the current year.

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Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BSAC. Natixis Advisors LLC purchased a new position in Banco Santander-Chile in the third quarter worth $212,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Banco Santander-Chile in the third quarter worth $461,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Banco Santander-Chile by 9.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 233,454 shares of the bank's stock worth $4,847,000 after acquiring an additional 20,966 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Banco Santander-Chile in the third quarter worth $700,000. Finally, Itau Unibanco Holding S.A. raised its position in Banco Santander-Chile by 79.6% in the third quarter. Itau Unibanco Holding S.A. now owns 296,922 shares of the bank's stock worth $6,164,000 after acquiring an additional 131,637 shares in the last quarter. Hedge funds and other institutional investors 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.