Banco De Chile (NYSE:BCH) Reaches New 52-Week High – Here’s Why

Banco De Chile (NYSE:BCH)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $36.11 and last traded at $36.0580, with a volume of 501253 shares traded. The stock had previously closed at $34.91.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Banco De Chile from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Banco De Chile from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Zacks Research raised shares of Banco De Chile from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Banco De Chile Trading Up 2.3%

The company has a debt-to-equity ratio of 2.00, a current ratio of 1.53 and a quick ratio of 1.53. The business’s 50 day moving average price is $31.30 and its 200-day moving average price is $30.16. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 2.56 and a beta of 0.28.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%.The firm had revenue of $675.26 million for the quarter, compared to analyst estimates of $831.97 million. Equities analysts forecast that Banco De Chile will post 2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Yousif Capital Management LLC increased its stake in shares of Banco De Chile by 4.8% during the second quarter. Yousif Capital Management LLC now owns 8,145 shares of the bank’s stock worth $248,000 after acquiring an additional 375 shares during the period. Parallel Advisors LLC grew its position in Banco De Chile by 7.5% during the second quarter. Parallel Advisors LLC now owns 6,141 shares of the bank’s stock worth $187,000 after buying an additional 428 shares during the period. EverSource Wealth Advisors LLC grew its position in Banco De Chile by 161.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after buying an additional 929 shares during the period. Brooklyn Investment Group grew its position in Banco De Chile by 823.3% during the first quarter. Brooklyn Investment Group now owns 1,385 shares of the bank’s stock worth $37,000 after buying an additional 1,235 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Banco De Chile by 276.2% during the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock worth $76,000 after buying an additional 1,845 shares during the period. 1.24% of the stock is currently owned by institutional investors and hedge funds.

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.