Banco De Chile (NYSE:BCH) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Banco De Chile (NYSE:BCH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.71 and traded as high as $41.28. Banco De Chile shares last traded at $41.01, with a volume of 215,502 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BCH. Wall Street Zen raised shares of Banco De Chile from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on Banco De Chile from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, UBS Group set a $39.00 target price on Banco De Chile and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $40.00.

Banco De Chile Price Performance

The stock has a 50 day moving average of $40.37 and a two-hundred day moving average of $39.68. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $20.74 billion, a PE ratio of 15.56 and a beta of 0.24.

Banco De Chile (NYSE:BCH) last posted its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 EPS for the quarter. The company had revenue of $999.95 million during the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. Equities analysts anticipate that Banco De Chile will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Banco De Chile

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Banco De Chile by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock worth $5,747,000 after buying an additional 75,924 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Banco De Chile during the second quarter valued at $1,266,000. EverSource Wealth Advisors LLC boosted its position in Banco De Chile by 161.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after acquiring an additional 929 shares during the period. First Trust Advisors LP purchased a new position in Banco De Chile during the 2nd quarter valued at about $238,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Banco De Chile in the 2nd quarter valued at about $323,000. 1.24% of the stock is currently owned by hedge funds and other 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.