Banco De Chile (NYSE:BCH) Releases Earnings Results, Beats Estimates By $0.19 EPS

Banco De Chile (NYSE:BCH) issued its earnings results on Friday. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.19, FiscalAI reports. The business had revenue of $988.91 million for the quarter, compared to analyst estimates of $973.11 million. Banco De Chile had a net margin of 29.95% and a return on equity of 19.47%.

Banco De Chile Stock Down 2.0%

Shares of NYSE:BCH traded down $0.83 during mid-day trading on Friday, hitting $41.42. 355,178 shares of the company traded hands, compared to its average volume of 381,821. The stock has a market cap of $20.92 billion, a P/E ratio of 17.11 and a beta of 0.23. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.00. Banco De Chile has a 12-month low of $27.08 and a 12-month high of $46.77. The stock has a 50-day moving average price of $39.44 and a two-hundred day moving average price of $39.75.

Hedge Funds Weigh In On Banco De Chile

Several large investors have recently bought and sold shares of the stock. Qube Research & Technologies Ltd boosted its holdings in Banco De Chile by 199.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after acquiring an additional 234,619 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Banco De Chile by 177.7% during the third quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock valued at $9,032,000 after purchasing an additional 190,741 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Banco De Chile by 29.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 835,782 shares of the bank’s stock valued at $31,755,000 after purchasing an additional 190,567 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Banco De Chile by 128.4% during the second quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock worth $6,021,000 after purchasing an additional 111,253 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Banco De Chile by 186.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 119,096 shares of the bank’s stock worth $3,609,000 after purchasing an additional 77,463 shares during the last quarter. 1.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group set a $39.00 price target on Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Weiss Ratings cut Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $37.00.

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.