Banco De Chile (NYSE:BCH) Receives Average Rating of “Reduce” from Analysts

Shares of Banco De Chile (NYSE:BCH) have been assigned an average rating of “Reduce” from the five analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $37.00.

A number of analysts have recently issued reports on the stock. 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. UBS Group set a $39.00 target price on Banco De Chile and gave the company a “neutral” rating in a research note on Friday, May 22nd.

Banco De Chile Trading Up 3.3%

Shares of Banco De Chile stock opened at $42.12 on Friday. Banco De Chile has a 1 year low of $27.08 and a 1 year high of $46.77. The firm has a market cap of $21.27 billion, a PE ratio of 17.40 and a beta of 0.23. 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 50 day simple moving average of $39.44 and a two-hundred day simple moving average of $39.75.

Banco De Chile (NYSE:BCH) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.57 EPS for the quarter. The business had revenue of $321.27 million during the quarter. Banco De Chile had a net margin of 29.95% and a return on equity of 19.47%. Analysts expect that Banco De Chile will post 2.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Several institutional investors have recently modified their holdings of BCH. Caitong International Asset Management Co. Ltd raised its holdings in shares of Banco De Chile by 33,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after buying an additional 678 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Banco De Chile by 161.6% in the 2nd 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 last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Banco De Chile in the first quarter worth approximately $53,000. Smartleaf Asset Management LLC boosted its stake in Banco De Chile by 286.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock worth $66,000 after buying an additional 1,276 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Banco De Chile by 2,425.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after acquiring an additional 2,401 shares during the last quarter. 1.24% of the stock is currently owned by institutional investors.

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.