Banco de Chile (NYSE:BCH) Sets New 12-Month High – Time to Buy?

Banco de Chile (NYSE:BCH) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.22 and last traded at $27.17, with a volume of 239333 shares trading hands. The stock had previously closed at $26.53.

Analyst Upgrades and Downgrades

BCH has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Banco de Chile from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. StockNews.com lowered Banco de Chile from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th.

Banco de Chile Stock Performance

The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92. The firm has a 50 day moving average price of $24.54 and a 200 day moving average price of $24.23. The stock has a market cap of $13.72 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 6.08 and a beta of 0.44.

Hedge Funds Weigh In On Banco de Chile

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in Banco de Chile by 293.4% during the 3rd quarter. State Street Corp now owns 128,448 shares of the bank’s stock valued at $3,251,000 after acquiring an additional 95,797 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Banco de Chile by 18,631.0% during the third quarter. BNP Paribas Financial Markets now owns 21,728 shares of the bank’s stock valued at $550,000 after purchasing an additional 21,612 shares in the last quarter. FMR LLC grew its stake in Banco de Chile by 1.8% in the third quarter. FMR LLC now owns 858,889 shares of the bank’s stock valued at $21,738,000 after purchasing an additional 15,312 shares during the last quarter. Walleye Capital LLC bought a new position in Banco de Chile in the third quarter worth about $638,000. Finally, Barclays PLC raised its holdings in Banco de Chile by 81.8% in the third quarter. Barclays PLC now owns 11,151 shares of the bank’s stock worth $282,000 after purchasing an additional 5,016 shares in the last quarter. 1.24% of the stock is currently owned by institutional investors.

Banco de Chile Company Profile

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.