The stock of Banco Santander-Chile (ADR) (NYSE:BSAC) hit a new 52-week high and has $28.58 target or 25.00% above today’s $22.86 share price. The 5 months bullish chart indicates low risk for the $10.88B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $28.58 price target is reached, the company will be worth $2.72B 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 144,364 shares traded hands. Banco Santander-Chile (ADR) (NYSE:BSAC) has risen 17.25% since April 5, 2016 and is uptrending. It has outperformed by 15.29% the S&P500.
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. Banco Santander-chile has been the topic of 5 analyst reports since November 2, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital on Thursday, April 7 with “Equalweight”. The stock has “Underperform” rating given by Bank of America on Wednesday, September 7. The stock of Banco Santander-Chile (ADR) (NYSE:BSAC) has “Neutral” rating given on Monday, November 2 by JP Morgan. Credit Suisse downgraded the shares of BSAC in a report on Monday, March 7 to “Neutral” rating.
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: Finance.Yahoo.com which released: “Banco Santander Chile Announces Third Quarter 2016 Earnings” on October 27, 2016, also Businesswire.com published article titled: “Santander Mexico Appoints JP Morgan as Depositary Bank for its ADR Program”, 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: Prnewswire.com and their article: “BNY Mellon Named as Depositary Bank by Grupo Supervielle S.A. in First ADR …” with publication date: May 26, 2016.
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.