Banco De Chile (NYSE:BCH) Given Average Rating of “Reduce” by Brokerages

Shares of Banco De Chile (NYSE:BCH) have earned a consensus recommendation of “Reduce” from the five research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.00.

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Banco De Chile from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wall Street Zen upgraded Banco De Chile from a “sell” rating to a “hold” rating in a research note 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. Finally, UBS Group set a $39.00 price target on Banco De Chile and gave the company a “neutral” rating in a research report on Friday, May 22nd.

Banco De Chile Stock Performance

Shares of BCH stock opened at $43.11 on Tuesday. The firm has a 50-day moving average of $40.54 and a 200-day moving average of $39.59. The company has a market cap of $21.78 billion, a P/E ratio of 16.33 and a beta of 0.24. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48. Banco De Chile has a one year low of $28.26 and a one year high of $46.77.

Banco De Chile (NYSE:BCH) last released its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share for the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. The business had revenue of $999.95 million for the quarter. Equities research analysts forecast that Banco De Chile will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 75,924 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Banco De Chile in the 2nd quarter worth about $1,266,000. 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 valued at $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 about $238,000. Finally, Flow Traders U.S. LLC purchased a new stake in Banco De Chile during the second quarter worth about $323,000. Institutional investors own 1.24% of the company’s stock.

Banco De Chile Company 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.