Banco De Chile (NYSE:BCH) Price Target Raised to $36.00 at JPMorgan Chase & Co.

Banco De Chile (NYSE:BCH) had its price target upped by JPMorgan Chase & Co. from $33.00 to $36.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

A number of other analysts have also recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. The Goldman Sachs Group cut shares of Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a research report on Tuesday. Wall Street Zen cut shares of Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Zacks Research lowered shares of Banco De Chile from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $36.00.

Banco De Chile Stock Performance

Banco De Chile stock opened at $40.14 on Friday. Banco De Chile has a fifty-two week low of $23.25 and a fifty-two week high of $41.37. The stock’s 50 day simple moving average is $38.10 and its two-hundred day simple moving average is $32.96. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $20.27 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.66 and a beta of 0.20.

Banco De Chile (NYSE:BCH) last released its earnings results on Thursday, October 30th. The bank reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Banco De Chile had a net margin of 32.87% and a return on equity of 23.25%. The firm had revenue of $764.93 million during the quarter, compared to analysts’ expectations of $831.97 million. As a group, analysts expect that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banco De Chile

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Banco De Chile by 161.6% in the 2nd 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 last quarter. Tower Research Capital LLC TRC raised its stake in shares of Banco De Chile by 2,425.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock worth $76,000 after purchasing an additional 2,401 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Banco De Chile by 276.2% in the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock worth $76,000 after purchasing an additional 1,845 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Banco De Chile by 1,355.4% during the second quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank’s stock valued at $98,000 after purchasing an additional 3,009 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Banco De Chile during the third quarter valued at $145,000. Institutional investors own 1.24% of the company’s stock.

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.