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

Banco Santander Chile (NYSE:BSAC) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley set a $38.00 target price on Banco Santander Chile in a research report on Wednesday, March 11th. Itau BBA Securities upgraded Banco Santander Chile from a “market perform” rating to an “outperform” rating in a research report on Thursday, March 19th. Erste Group Bank upgraded Banco Santander Chile to a “strong-buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. upgraded Banco Santander Chile from a “neutral” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Monday, March 30th. Finally, Bank of America raised Banco Santander Chile from an “underperform” rating to a “neutral” rating and set a $35.00 price target on the stock in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.00.

Banco Santander Chile Stock Down 2.4%

The stock has a market capitalization of $14.30 billion, a P/E ratio of 13.08, a PEG 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. The company has a fifty day moving average price of $32.47 and a 200-day moving average price of $32.54.

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

Institutional Trading of Banco Santander Chile

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Banco Santander Chile by 1.6% in the first quarter. Bank of America Corp DE now owns 298,791 shares of the bank’s stock valued at $9,980,000 after purchasing an additional 4,663 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 653 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Banco Santander Chile by 11.4% in the first quarter. Quantinno Capital Management LP now owns 73,632 shares of the bank’s stock valued at $2,459,000 after purchasing an additional 7,537 shares during the period. First Trust Advisors LP purchased a new stake in shares of Banco Santander Chile in the first quarter valued at approximately $338,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $388,000 after purchasing an additional 755 shares during the period. Hedge funds and other institutional investors own 6.42% of the company’s stock.

About Banco Santander Chile

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.