JPMorgan Chase & Co. Issues Pessimistic Forecast for Banco De Chile (NYSE:BCH) Stock Price

Banco De Chile (NYSE:BCH) had its price target dropped by research analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 16.25% from the company’s current price.

A number of other equities research analysts also recently weighed in on BCH. Weiss Ratings upgraded Banco De Chile from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Wall Street Zen upgraded Banco De Chile from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Banco De Chile presently has an average rating of “Reduce” and an average target price of $39.67.

Banco De Chile Price Performance

Shares of NYSE:BCH opened at $37.85 on Tuesday. The company’s fifty day moving average price is $41.29 and its 200-day moving average price is $39.54. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 14.34 and a beta of 0.20. Banco De Chile has a one year low of $30.33 and a one year high of $46.77. 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 (NYSE:BCH) last posted its quarterly earnings data 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 firm had revenue of $999.95 million for the quarter. On average, equities research analysts anticipate that Banco De Chile will post 2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BCH. Quantinno Capital Management LP lifted its stake in shares of Banco De Chile by 30.6% in the 1st quarter. Quantinno Capital Management LP now owns 72,354 shares of the bank’s stock valued at $2,680,000 after acquiring an additional 16,932 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Banco De Chile by 17.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 69,482 shares of the bank’s stock worth $2,763,000 after purchasing an additional 10,157 shares during the period. Advisors Preferred LLC boosted its stake in shares of Banco De Chile by 278.9% during the first quarter. Advisors Preferred LLC now owns 27,706 shares of the bank’s stock valued at $1,026,000 after purchasing an additional 20,393 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Banco De Chile by 4.6% in the first quarter. Lazard Asset Management LLC now owns 25,849 shares of the bank’s stock worth $957,000 after purchasing an additional 1,137 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Banco De Chile in the fourth quarter worth approximately $878,000. 1.24% of the stock is owned by institutional investors.

Banco De Chile Company Profile

Banco de Chile is a Chilean financial institution headquartered in Santiago. Founded in 1893, it is one of the country’s largest and longest-established banks and serves individuals, businesses, corporations, and institutional clients throughout Chile.

The bank provides a broad range of financial products and services, including consumer and commercial loans, checking and savings accounts, credit and debit cards, mortgages, cash management, foreign exchange, and investment services. It also offers corporate and investment banking, treasury services, trade finance, and capital markets activities.

Banco de Chile serves customers through a nationwide network of branches and digital banking channels.