Banco Santander Chile (NYSE:BSAC) Shares Cross Below 50-Day Moving Average – Time to Sell?

Banco Santander Chile (NYSE:BSAC) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $32.47 and traded as low as $30.25. Banco Santander Chile shares last traded at $30.3540, with a volume of 197,723 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Banco Santander Chile in a report on Monday, April 20th. Itau BBA Securities upgraded Banco Santander Chile from a “market perform” rating to an “outperform” rating in a report on Thursday, March 19th. UBS Group lowered their target price on Banco Santander Chile from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Morgan Stanley set a $38.00 target price on Banco Santander Chile in a report on Wednesday, March 11th. Finally, 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 report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Banco Santander Chile Stock Performance

The business has a 50-day moving average price of $32.47 and a 200-day moving average price of $32.54. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.74 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.26.

Banco Santander Chile (NYSE:BSAC) last issued its quarterly earnings results on Monday, April 13th. The bank reported $0.63 earnings per share (EPS) for the quarter. The business had revenue of $791.52 million for the quarter. Banco Santander Chile had a return on equity of 21.00% and a net margin of 24.95%. As a group, sell-side analysts forecast that Banco Santander Chile will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Banco Santander Chile

Several hedge funds have recently made changes to their positions in BSAC. Sequoia Financial Advisors LLC grew its position in Banco Santander Chile by 8.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,645 shares of the bank’s stock worth $255,000 after purchasing an additional 618 shares during the period. EverSource Wealth Advisors LLC grew its position in Banco Santander Chile by 63.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,688 shares of the bank’s stock worth $56,000 after purchasing an additional 653 shares during the period. Wells Fargo & Company MN grew its position in Banco Santander Chile by 22.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,949 shares of the bank’s stock worth $123,000 after purchasing an additional 731 shares during the period. PNC Financial Services Group Inc. grew its position in Banco Santander Chile by 6.9% during the 1st 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. Finally, Advisors Asset Management Inc. grew its position in Banco Santander Chile by 29.1% during the 4th quarter. Advisors Asset Management Inc. now owns 3,398 shares of the bank’s stock worth $106,000 after purchasing an additional 766 shares during the period. 6.42% of the stock is owned by institutional investors and hedge funds.

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.