Banco De Chile (NYSE:BCH) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Banco De Chile (NYSE:BCH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.37 and traded as high as $40.78. Banco De Chile shares last traded at $40.1920, with a volume of 276,332 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings cut Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Zacks Research upgraded Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, UBS Group set a $39.00 price objective on shares of Banco De Chile and gave the company a “neutral” rating in a report on Friday, May 22nd. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Banco De Chile presently has an average rating of “Reduce” and a consensus price target of $37.00.

Banco De Chile Stock Down 0.0%

The stock has a market cap of $20.30 billion, a PE ratio of 16.61 and a beta of 0.23. The business has a 50 day moving average price of $38.13 and a 200 day moving average price of $39.38. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.00.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $0.57 earnings per share 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 during the quarter. Equities research analysts expect that Banco De Chile will post 2.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

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

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.