Banco Santander-Chile (NYSE:BSAC) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of 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 $19.48 and traded as low as $18.81. Banco Santander-Chile shares last traded at $18.96, with a volume of 258,211 shares.

Wall Street Analyst Weigh In

Separately, Bank of America downgraded shares of Banco Santander-Chile from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $21.00 in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Banco Santander-Chile has an average rating of “Hold” and a consensus target price of $21.33.

Banco Santander-Chile Stock Performance

The company has a 50 day moving average price of $19.48 and a 200-day moving average price of $19.72. 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 market cap of $8.93 billion, a P/E ratio of 10.77, a PEG ratio of 0.41 and a beta of 0.87.

Hedge Funds Weigh In On Banco Santander-Chile

Large investors have recently bought and sold shares of the stock. Mirabella Financial Services LLP bought a new position in shares of Banco Santander-Chile in the third quarter valued at approximately $700,000. AGF Management Ltd. boosted its stake in Banco Santander-Chile by 6.5% during the 2nd quarter. AGF Management Ltd. now owns 402,781 shares of the bank’s stock valued at $7,584,000 after purchasing an additional 24,697 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Banco Santander-Chile by 900.5% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 165,285 shares of the bank’s stock valued at $3,107,000 after purchasing an additional 148,764 shares during the period. Franklin Resources Inc. raised its stake in shares of Banco Santander-Chile by 1.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,164,490 shares of the bank’s stock worth $63,859,000 after buying an additional 33,291 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Banco Santander-Chile in the third quarter valued at $1,724,000. Institutional investors and hedge funds 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.