Banco De Chile (NYSE:BCH) Cut to “Neutral” at J P Morgan Chase & Co

Banco De Chile (NYSE:BCH) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, September 6th, Marketbeat reports. They currently have a $92.00 price target on the bank’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 4.90% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. BidaskClub upgraded Banco De Chile from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. ValuEngine cut Banco De Chile from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Zacks Investment Research cut Banco De Chile from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Credit Suisse Group set a $76.00 price objective on Banco De Chile and gave the stock a “hold” rating in a report on Saturday, July 1st. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Banco De Chile currently has a consensus rating of “Buy” and a consensus price target of $88.67.

Banco De Chile (BCH) opened at 87.70 on Wednesday. The firm has a market cap of $14.65 billion, a PE ratio of 16.24 and a beta of 0.40. Banco De Chile has a 1-year low of $65.75 and a 1-year high of $89.91. The firm’s 50-day moving average is $87.17 and its 200 day moving average is $79.10.

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Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its stake in shares of Banco De Chile by 2.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,880 shares of the bank’s stock worth $161,000 after buying an additional 41 shares during the last quarter. US Bancorp DE lifted its position in Banco De Chile by 1.6% during the first quarter. US Bancorp DE now owns 4,947 shares of the bank’s stock valued at $357,000 after purchasing an additional 76 shares in the last quarter. Naples Global Advisors LLC lifted its position in Banco De Chile by 2.8% during the second quarter. Naples Global Advisors LLC now owns 3,295 shares of the bank’s stock valued at $257,000 after purchasing an additional 90 shares in the last quarter. Global X Management Co. LLC lifted its position in Banco De Chile by 5.7% during the second quarter. Global X Management Co. LLC now owns 2,042 shares of the bank’s stock valued at $159,000 after purchasing an additional 111 shares in the last quarter. Finally, Comerica Bank lifted its position in Banco De Chile by 1.3% during the first quarter. Comerica Bank now owns 9,342 shares of the bank’s stock valued at $685,000 after purchasing an additional 119 shares in the last quarter. 1.54% of the stock is owned by institutional investors and hedge funds.

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