Banco de Chile (NYSE:BCH) Hits New 12-Month High – What’s Next?

Banco de Chile (NYSE:BCH)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $27.50 and last traded at $27.46, with a volume of 27543 shares changing hands. The stock had previously closed at $27.20.

Analyst Ratings Changes

BCH has been the subject of a number of analyst reports. StockNews.com lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Banco de Chile from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 24th.

Banco de Chile Trading Up 1.9 %

The company has a market cap of $14.00 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 6.08 and a beta of 0.39. The company’s 50 day moving average price is $25.05 and its 200 day moving average price is $24.30. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.52 and a current ratio of 1.51.

Banco de Chile Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 21st will be issued a dividend of $2.1037 per share. This represents a dividend yield of 5.1%. The ex-dividend date is Friday, March 21st. Banco de Chile’s dividend payout ratio is 53.78%.

Hedge Funds Weigh In On Banco de Chile

A number of institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Banco de Chile by 8.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,938 shares of the bank’s stock valued at $9,616,000 after acquiring an additional 28,959 shares during the period. FMR LLC increased its position in Banco de Chile by 1.8% in the 3rd quarter. FMR LLC now owns 858,889 shares of the bank’s stock worth $21,738,000 after buying an additional 15,312 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Banco de Chile by 18,631.0% during the third quarter. BNP Paribas Financial Markets now owns 21,728 shares of the bank’s stock worth $550,000 after buying an additional 21,612 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Banco de Chile during the third quarter worth approximately $638,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Banco de Chile in the third quarter valued at approximately $2,411,000. Institutional investors own 1.24% of the company’s stock.

Banco de Chile Company Profile

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.