Banco De Chile (NYSE:BCH) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Banco De Chile (NYSE:BCH) have earned a consensus recommendation of “Reduce” from the five analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $40.00.

BCH has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a report on Tuesday, January 13th. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, January 21st. Zacks Research cut Banco De Chile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. increased their target price on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, UBS Group set a $48.00 target price on Banco De Chile and gave the company a “neutral” rating in a research report on Friday, February 6th.

Banco De Chile Stock Down 1.8%

NYSE BCH opened at $40.33 on Tuesday. The stock has a fifty day simple moving average of $41.89 and a 200-day simple moving average of $36.26. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. Banco De Chile has a twelve month low of $23.66 and a twelve month high of $46.77.

Banco De Chile (NYSE:BCH) last posted its earnings results on Tuesday, February 3rd. The bank reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The company had revenue of $826.07 million during the quarter, compared to analyst estimates of $878.92 million. Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. On average, sell-side analysts expect that Banco De Chile will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On Banco De Chile

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its holdings in Banco De Chile by 33,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock worth $26,000 after buying an additional 678 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Banco De Chile by 161.6% during the second 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 period. Smartleaf Asset Management LLC raised its stake in shares of Banco De Chile by 286.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,276 shares in 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 valued at $76,000 after acquiring an additional 1,845 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Banco De Chile by 2,425.3% during the 2nd 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 in the last quarter. 1.24% of the stock is owned by hedge funds and other institutional investors.

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.