BidaskClub Upgrades Banco De Chile (BCH) to Strong-Buy

Banco De Chile (NYSE:BCH) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday, July 13th.

Several other equities analysts have also recently commented on BCH. Zacks Investment Research upgraded shares of Banco De Chile from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Wednesday, March 22nd. Credit Suisse Group set a $73.00 price objective on shares of Banco De Chile and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Banco De Chile currently has a consensus rating of “Hold” and an average target price of $81.00.

Banco De Chile (NYSE:BCH) opened at 86.50 on Thursday. Banco De Chile has a 12-month low of $64.66 and a 12-month high of $87.20. The stock’s 50 day moving average price is $82.08 and its 200 day moving average price is $75.94. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 16.02 and a beta of 0.40.

Banco De Chile (NYSE:BCH) last issued its earnings results on Monday, May 8th. The bank reported $1.30 EPS for the quarter, missing the consensus estimate of $1.36 by $0.06. The firm had revenue of $640.30 million during the quarter. Banco De Chile had a net margin of 24.00% and a return on equity of 18.89%. On average, equities research analysts anticipate that Banco De Chile will post $5.36 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of BCH. Karp Capital Management Corp purchased a new stake in Banco De Chile during the first quarter worth approximately $8,365,000. Renaissance Technologies LLC raised its stake in Banco De Chile by 10.8% in the first quarter. Renaissance Technologies LLC now owns 630,152 shares of the bank’s stock worth $45,472,000 after buying an additional 61,600 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Banco De Chile by 21.2% in the first quarter. AQR Capital Management LLC now owns 94,163 shares of the bank’s stock valued at $6,795,000 after buying an additional 16,468 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Banco De Chile by 11.2% in the first quarter. Goldman Sachs Group Inc. now owns 156,725 shares of the bank’s stock valued at $11,309,000 after buying an additional 15,823 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Banco De Chile by 59.3% in the first quarter. Morgan Stanley now owns 35,186 shares of the bank’s stock valued at $2,539,000 after buying an additional 13,099 shares in the last quarter. 1.77% of the stock is currently owned by institutional investors.

About Banco De Chile

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