Zacks Research Upgrades Banco De Chile (NYSE:BCH) to “Hold”

Banco De Chile (NYSE:BCH) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. 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 for the company. in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, UBS Group set a $48.00 price target on Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $40.00.

Banco De Chile Price Performance

BCH traded up $0.37 on Wednesday, reaching $37.67. The company’s stock had a trading volume of 139,612 shares, compared to its average volume of 399,783. Banco De Chile has a 1 year low of $23.66 and a 1 year high of $46.77. The business’s 50 day moving average is $41.99 and its 200 day moving average is $36.71. 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 (NYSE:BCH) last posted its quarterly earnings data on Tuesday, February 3rd. The bank reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). The business had revenue of $826.07 million for the quarter, compared to analysts’ expectations of $878.92 million. Banco De Chile had a return on equity of 23.94% and a net margin of 33.09%. Research analysts anticipate that Banco De Chile will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its stake in Banco De Chile by 33,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after acquiring an additional 678 shares during the period. EverSource Wealth Advisors LLC boosted its position in Banco De Chile by 161.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after purchasing an additional 929 shares during the period. Smartleaf Asset Management LLC grew its stake in Banco De Chile by 286.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock worth $66,000 after buying an additional 1,276 shares during the last quarter. Tower Research Capital LLC TRC increased its position in 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 buying an additional 2,401 shares during the period. Finally, Inspire Investing LLC acquired a new stake in Banco De Chile in the fourth quarter worth $100,000. 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.