Banco Santander Chile (NYSE:BSAC) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Banco Santander Chile (NYSE:BSAC) passed 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 changing hands.

Wall Street Analysts Forecast Growth

BSAC has been the subject of a number of research reports. The Goldman Sachs Group cut shares of Banco Santander Chile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Itau BBA Securities raised Banco Santander Chile from a “market perform” rating to an “outperform” rating in a report on Thursday, March 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco Santander Chile in a research report on Monday. Bank of America raised Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 target price for the company in a report on Wednesday, April 1st. Finally, Wall Street Zen raised Banco Santander Chile from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.50.

Banco Santander Chile Trading Up 1.3%

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $15.96 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55. The business’s 50-day moving average price is $33.48 and its 200-day moving average price is $31.95.

Banco Santander Chile (NYSE:BSAC) last announced its earnings results on Monday, April 13th. The bank reported $0.63 earnings per share (EPS) for the quarter. The business had revenue of $787.51 million for the quarter. Banco Santander Chile had a net margin of 24.57% and a return on equity of 21.51%. As a group, analysts expect that Banco Santander Chile will post 2.72 earnings per share for the current fiscal year.

Institutional Trading of Banco Santander Chile

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSAC. Raymond James Financial Inc. purchased a new stake in Banco Santander Chile during the 2nd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC raised its stake in Banco Santander Chile by 577.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,329 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Banco Santander Chile by 199.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,511 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,007 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Banco Santander Chile by 739.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,486 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,309 shares during the last quarter. Finally, Barclays PLC raised its stake in Banco Santander Chile by 703.0% during the 4th quarter. Barclays PLC now owns 2,666 shares of the bank’s stock valued at $83,000 after acquiring an additional 2,334 shares during the last quarter. 6.42% of the stock is owned by hedge funds and other 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.