Banco De Chile (NYSE:BCH) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Banco De Chile (NYSE:BCH) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $39.41 and traded as high as $39.67. Banco De Chile shares last traded at $38.8090, with a volume of 333,117 shares changing hands.

Wall Street Analysts Forecast Growth

BCH has been the topic of several recent research reports. Weiss Ratings cut Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. UBS Group set a $39.00 target price on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Banco De Chile has an average rating of “Reduce” and a consensus price target of $37.00.

Banco De Chile Trading Down 0.0%

The company has a debt-to-equity ratio of 2.00, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $19.60 billion, a price-to-earnings ratio of 16.04 and a beta of 0.23. The business’s 50-day moving average price is $38.12 and its two-hundred day moving average price is $39.41.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.57 earnings per share (EPS) for the quarter. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%.The business had revenue of $321.27 million for the quarter. Research analysts predict that Banco De Chile will post 2.8 earnings per share for the current year.

Institutional Trading of Banco De Chile

Several large investors have recently modified their holdings of BCH. Pekin Hardy Strauss Inc. lifted its position in Banco De Chile by 440.3% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 51,325 shares of the bank’s stock worth $1,950,000 after purchasing an additional 41,825 shares during the period. UBS Group AG increased its holdings in Banco De Chile by 110.0% in the 4th quarter. UBS Group AG now owns 494,082 shares of the bank’s stock valued at $18,775,000 after buying an additional 258,844 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Banco De Chile by 158.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 41,874 shares of the bank’s stock valued at $1,591,000 after buying an additional 25,643 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Banco De Chile during the 4th quarter worth approximately $746,000. Finally, Ethic Inc. lifted its holdings in shares of Banco De Chile by 33.6% during the 4th quarter. Ethic Inc. now owns 63,284 shares of the bank’s stock worth $2,405,000 after acquiring an additional 15,911 shares during the period. 1.24% of the stock is owned by institutional investors and hedge funds.

About Banco De Chile

Banco de Chile (NYSE: BCH) is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country’s oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank’s core businesses include retail banking, commercial and corporate banking, and investment banking.