Banco de Chile (NYSE:BCH) Sets New 12-Month Low at $25.22

Shares of Banco de Chile (NYSE:BCH) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $25.22 and last traded at $25.27, with a volume of 53430 shares traded. The stock had previously closed at $25.86.

BCH has been the topic of a number of recent analyst reports. ValuEngine downgraded Banco de Chile from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Scotiabank raised Banco de Chile from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 25th. Zacks Investment Research raised Banco de Chile from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Goldman Sachs Group began coverage on Banco de Chile in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $29.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.67.

The firm has a market cap of $13.11 billion, a P/E ratio of 14.47, a PEG ratio of 1.51 and a beta of 0.41. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.50 and a quick ratio of 1.39. The stock has a 50 day moving average of $27.84 and a 200 day moving average of $28.64.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCH. Renaissance Technologies LLC increased its stake in Banco de Chile by 1.0% in the second quarter. Renaissance Technologies LLC now owns 2,101,975 shares of the bank’s stock valued at $62,408,000 after acquiring an additional 20,519 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Banco de Chile by 45.5% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,092 shares of the bank’s stock valued at $1,606,000 after acquiring an additional 16,926 shares during the last quarter. Citadel Advisors LLC bought a new position in Banco de Chile in the second quarter valued at $456,000. Bank of America Corp DE grew its stake in shares of Banco de Chile by 6.5% during the second quarter. Bank of America Corp DE now owns 220,077 shares of the bank’s stock valued at $6,534,000 after buying an additional 13,527 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Banco de Chile by 43.4% during the second quarter. JPMorgan Chase & Co. now owns 39,540 shares of the bank’s stock valued at $1,167,000 after buying an additional 11,966 shares during the last quarter. 1.20% of the stock is currently owned by institutional investors and hedge funds.

About Banco de Chile (NYSE:BCH)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.

Further Reading: Diversification Important in Investing

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