Hsbc Holdings PLC Acquires Shares of 23,113 Banco De Chile $BCH

Hsbc Holdings PLC acquired a new stake in Banco De Chile (NYSE:BCH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,113 shares of the bank’s stock, valued at approximately $878,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in Banco De Chile by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after buying an additional 75,924 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Banco De Chile during the second quarter worth $1,266,000. EverSource Wealth Advisors LLC boosted its stake 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. First Trust Advisors LP bought a new position in Banco De Chile during the second quarter valued at $238,000. Finally, Flow Traders U.S. LLC bought a new position in Banco De Chile during the second quarter valued at $323,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Wall Street Analysts Forecast Growth

BCH has been the subject of several analyst reports. UBS Group set a $39.00 target price on shares of Banco De Chile and gave the stock a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings downgraded shares of Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Banco De Chile has an average rating of “Reduce” and a consensus price target of $37.00.

Banco De Chile Price Performance

BCH opened at $40.88 on Wednesday. The business has a fifty day moving average of $38.40 and a 200 day moving average of $39.60. Banco De Chile has a 52-week low of $27.08 and a 52-week high of $46.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.00. The stock has a market cap of $20.65 billion, a P/E ratio of 16.89 and a beta of 0.23.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $0.57 EPS for the quarter. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%.The company had revenue of $321.27 million for the quarter. As a group, sell-side analysts anticipate that Banco De Chile will post 2.76 EPS for the current year.

Banco De Chile Profile

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.