Banco De Chile (NYSE:BCH) Raised to “Hold” at Wall Street Zen

Banco De Chile (NYSE:BCH) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also issued reports on BCH. Weiss Ratings raised shares of Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. UBS Group set a $39.00 price target on shares of Banco De Chile and gave the company a “neutral” rating in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Banco De Chile from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Friday. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Banco De Chile currently has an average rating of “Reduce” and an average price target of $40.00.

Banco De Chile Trading Down 0.3%

Shares of BCH stock opened at $41.29 on Friday. The company has a market cap of $20.85 billion, a P/E ratio of 15.64 and a beta of 0.24. The stock has a 50 day simple moving average of $39.86 and a two-hundred day simple moving average of $39.80. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.48 and a current ratio of 1.48. Banco De Chile has a fifty-two week low of $28.26 and a fifty-two week high of $46.77.

Banco De Chile (NYSE:BCH) last posted its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share (EPS) for the quarter. The firm had revenue of $999.95 million for the quarter. Banco De Chile had a return on equity of 21.10% and a net margin of 31.01%. Research analysts forecast that Banco De Chile will post 2.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. boosted its position in shares of Banco De Chile by 29.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 835,782 shares of the bank’s stock valued at $31,755,000 after buying an additional 190,567 shares during the last quarter. UBS Group AG lifted its holdings in Banco De Chile by 110.0% during the fourth quarter. UBS Group AG now owns 494,082 shares of the bank’s stock worth $18,775,000 after acquiring an additional 258,844 shares during the period. Qube Research & Technologies Ltd boosted its position in Banco De Chile by 199.1% in the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after purchasing an additional 234,619 shares during the last quarter. Marshall Wace LLP boosted its position in Banco De Chile by 177.7% in the third quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock worth $9,032,000 after purchasing an additional 190,741 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Banco De Chile by 53.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after purchasing an additional 75,924 shares during the period. 1.24% of the stock is currently owned by institutional investors and hedge funds.

Banco De Chile Company Profile

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.