The stock of Banco Santander-Chile (ADR) (NYSE:BSAC) hit a new 52-week high and has $28.44 target or 26.00% above today’s $22.57 share price. The 9 months bullish chart indicates low risk for the $10.76 billion company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $28.44 price target is reached, the company will be worth $2.80 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 67,254 shares traded hands. Banco Santander-Chile (ADR) (NYSE:BSAC) has risen 17.42% since March 30, 2016 and is uptrending. It has outperformed by 14.41% the S&P500.
Analysts await Banco Santander-Chile (ADR) (NYSE:BSAC) to report earnings on November, 3.
Banco Santander-Chile (ADR) (NYSE:BSAC) Ratings Coverage
Out of 4 analysts covering Banco Santander-chile (NYSE:BSAC), 0 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 0 are positive. $22 is the highest target while $20 is the lowest. The $20.83 average target is -7.71% below today’s ($22.57) stock price. Banco Santander-chile has been the topic of 5 analyst reports since November 2, 2015 according to StockzIntelligence Inc. JP Morgan maintained Banco Santander-Chile (ADR) (NYSE:BSAC) on Monday, November 2 with “Neutral” rating. The stock has “Equalweight” rating given by Barclays Capital on Thursday, April 7. Credit Suisse downgraded Banco Santander-Chile (ADR) (NYSE:BSAC) on Monday, March 7 to “Neutral” rating. The firm has “Underperform” rating given on Wednesday, September 7 by Bank of America.
According to Zacks Investment Research, “Banco Santiago is the largest bank in Chile, in terms of assets with Ch$4,088 billion (approximately US$9.86 billion ) as of March 31, 1997. The bank is the result of the merger of two of the largest institutions in the Chilean banking system, Banco O’Higgins S.A., mainly a corporate bank, and Banco de Santiago S.A., mainly focused in consumer and middle-market lending.”
More important recent Banco Santander-Chile (ADR) (NYSE:BSAC) news were published by: Businesswire.com which released: “Santander Mexico Appoints JP Morgan as Depositary Bank for its ADR Program” on November 15, 2012, also Prnewswire.com published article titled: “BNY Mellon Named as Depositary Bank by Grupo Supervielle S.A. in First ADR …”, Seekingalpha.com published: “Complete List of Chilean ADR Stocks” on October 24, 2009. More interesting news about Banco Santander-Chile (ADR) (NYSE:BSAC) was released by: Forbes.com and their article: “How To Invest In Spain’s Banco Santander” with publication date: May 10, 2012.
BSAC Company Profile
Banco Santander-Chile (the Bank), formerly Banco Santander Chile, incorporated on August 1, 2002, is a Chilean bank. The Bank’s divisions include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Bank provides a range of commercial and retail banking services to its customers, including Chilean peso and foreign currency denominated loans to finance a range of commercial transactions, trade, foreign currency forward contracts and credit lines and a range of retail banking services, including mortgage financing. In addition to its traditional banking operations, the Bank offers a range of financial services, including financial leasing, financial advisory services, mutual fund management, securities brokerage, insurance brokerage and investment management. It provides a range of financial services to corporate and individual customers.
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