Banco de Chile (NYSE:BCH) Given New $23.00 Price Target at JPMorgan Chase & Co.

Banco de Chile (NYSE:BCH) had its price target upped by investment analysts at JPMorgan Chase & Co. from $21.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 6.74% from the stock’s previous close.

Banco de Chile Price Performance

Shares of NYSE BCH traded up $0.37 during mid-day trading on Friday, reaching $24.66. The company’s stock had a trading volume of 35,118 shares, compared to its average volume of 196,719. Banco de Chile has a 52 week low of $20.93 and a 52 week high of $25.97. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $12.46 billion, a PE ratio of 8.84 and a beta of 0.44. The stock has a fifty day moving average of $23.03 and a two-hundred day moving average of $23.84.

Banco de Chile (NYSE:BCH) last posted its earnings results on Tuesday, October 29th. The bank reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The business had revenue of $980.10 million during the quarter, compared to the consensus estimate of $796.96 million. Banco de Chile had a return on equity of 22.69% and a net margin of 30.00%. As a group, sell-side analysts anticipate that Banco de Chile will post 2.5 EPS for the current fiscal year.

Institutional Trading of Banco de Chile

Several hedge funds and other institutional investors have recently made changes to their positions in BCH. State Street Corp increased its position in Banco de Chile by 293.4% during the 3rd quarter. State Street Corp now owns 128,448 shares of the bank’s stock valued at $3,251,000 after buying an additional 95,797 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Banco de Chile by 18,631.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,728 shares of the bank’s stock worth $550,000 after purchasing an additional 21,612 shares in the last quarter. FMR LLC grew its position in Banco de Chile by 1.8% during the 3rd quarter. FMR LLC now owns 858,889 shares of the bank’s stock worth $21,738,000 after purchasing an additional 15,312 shares during the last quarter. Walleye Capital LLC acquired a new position in Banco de Chile during the 3rd quarter valued at approximately $638,000. Finally, Barclays PLC raised its stake in Banco de Chile by 81.8% in the 3rd quarter. Barclays PLC now owns 11,151 shares of the bank’s stock worth $282,000 after acquiring an additional 5,016 shares during the last quarter. Hedge funds and other institutional investors own 1.24% of the company’s stock.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.