Banco de Chile (NYSE:BCH) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Banco de Chile (NYSE:BCH) issued its quarterly earnings results on Tuesday. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04, reports. Banco de Chile had a return on equity of 23.65% and a net margin of 29.41%. The firm had revenue of $810.22 million for the quarter, compared to analysts’ expectations of $767.15 million.

Banco de Chile Trading Up 1.6 %

Shares of NYSE:BCH opened at $23.92 on Thursday. Banco de Chile has a 12-month low of $19.20 and a 12-month high of $24.79. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.97. The firm has a market capitalization of $12.08 billion, a P/E ratio of 8.05 and a beta of 0.40. The firm has a fifty day moving average of $23.50 and a two-hundred day moving average of $22.95.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Banco de Chile by 5.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,488 shares of the bank’s stock valued at $242,000 after purchasing an additional 541 shares in the last quarter. Blue Trust Inc. boosted its position in Banco de Chile by 737.6% during the fourth quarter. Blue Trust Inc. now owns 2,697 shares of the bank’s stock worth $62,000 after purchasing an additional 2,375 shares during the period. Advisors Preferred LLC acquired a new position in Banco de Chile during the fourth quarter valued at approximately $194,000. Cerity Partners LLC bought a new position in shares of Banco de Chile in the fourth quarter valued at approximately $226,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Banco de Chile by 8.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,126 shares of the bank’s stock worth $2,311,000 after buying an additional 8,071 shares during the last quarter. 1.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Banco de Chile from a “sell” rating to a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. increased their target price on Banco de Chile from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.