Short Interest in Banco de Chile (NYSE:BCH) Grows By 41.9%

Banco de Chile (NYSE:BCH) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 329,200 shares, an increase of 41.9% from the August 31st total of 232,000 shares. Based on an average daily volume of 168,700 shares, the days-to-cover ratio is presently 2.0 days.

Banco de Chile Stock Down 0.5 %

BCH stock traded down $0.12 during trading on Friday, reaching $25.52. 147,308 shares of the company traded hands, compared to its average volume of 195,986. The business has a 50 day simple moving average of $24.50 and a 200 day simple moving average of $23.57. Banco de Chile has a 12 month low of $19.20 and a 12 month high of $25.97. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 8.59 and a beta of 0.40.

Banco de Chile (NYSE:BCH) last announced its earnings results on Tuesday, July 30th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Banco de Chile had a net margin of 28.99% and a return on equity of 22.72%. The company had revenue of $810.22 million during the quarter, compared to the consensus estimate of $767.15 million. On average, equities research analysts anticipate that Banco de Chile will post 2.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised Banco de Chile from a “sell” rating to a “hold” rating in a research report on Friday, July 19th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. purchased a new stake in shares of Banco de Chile during the second quarter valued at $60,462,000. Bessemer Group Inc. purchased a new stake in Banco de Chile during the 1st quarter valued at about $6,189,000. Wellington Management Group LLP increased its holdings in shares of Banco de Chile by 143.6% in the fourth quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock valued at $6,479,000 after purchasing an additional 165,467 shares during the period. Alberta Investment Management Corp raised its stake in shares of Banco de Chile by 215.2% in the fourth quarter. Alberta Investment Management Corp now owns 146,633 shares of the bank’s stock worth $3,384,000 after purchasing an additional 100,108 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Banco de Chile by 61.5% during the second quarter. AQR Capital Management LLC now owns 243,009 shares of the bank’s stock worth $5,499,000 after purchasing an additional 92,532 shares during the period. 1.24% of the stock is owned by institutional investors and hedge funds.

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.