JPMorgan Chase & Co. Cuts Banco De Chile (NYSE:BCH) Price Target to $44.00

Banco De Chile (NYSE:BCH) had its price target reduced by JPMorgan Chase & Co. from $45.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the bank’s stock.

BCH has been the subject of a number of other research reports. Weiss Ratings upgraded Banco De Chile from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Wall Street Zen upgraded Banco De Chile from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. 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 MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $39.67.

Banco De Chile Stock Up 2.2%

NYSE:BCH opened at $38.73 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.94. Banco De Chile has a twelve month low of $30.40 and a twelve month high of $46.77. The company has a market cap of $19.56 billion, a PE ratio of 14.67 and a beta of 0.20. The company’s 50 day moving average is $41.22 and its two-hundred day moving average is $39.55.

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. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. The business had revenue of $999.95 million during the quarter. Analysts anticipate that Banco De Chile will post 2.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCH. Farther Finance Advisors LLC lifted its position in Banco De Chile by 7.4% during the third quarter. Farther Finance Advisors LLC now owns 9,263 shares of the bank’s stock valued at $371,000 after purchasing an additional 638 shares during the period. ABS Direct Equity Fund LLC purchased a new position in shares of Banco De Chile during the 2nd quarter valued at about $749,000. Nykredit A S purchased a new position in shares of Banco De Chile during the 2nd quarter valued at about $430,000. Public Employees Retirement System of Ohio acquired a new position in shares of Banco De Chile in the 2nd quarter valued at about $313,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Banco De Chile by 17.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 69,482 shares of the bank’s stock valued at $2,763,000 after buying an additional 10,157 shares during the period. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Banco De Chile Company Profile

Banco de Chile is a Chilean financial institution headquartered in Santiago. Founded in 1893, it is one of the country’s largest and longest-established banks and serves individuals, businesses, corporations, and institutional clients throughout Chile.

The bank provides a broad range of financial products and services, including consumer and commercial loans, checking and savings accounts, credit and debit cards, mortgages, cash management, foreign exchange, and investment services. It also offers corporate and investment banking, treasury services, trade finance, and capital markets activities.

Banco de Chile serves customers through a nationwide network of branches and digital banking channels.