Zacks Investment Research Upgrades Banco de Chile (NYSE:BCH) to “Hold”
According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “
A number of other analysts also recently commented on BCH. Goldman Sachs Group began coverage on Banco de Chile in a research note on Tuesday, September 10th. They issued a neutral rating and a $29.00 target price on the stock. Scotiabank upgraded Banco de Chile from a sector perform rating to an outperform rating in a research note on Thursday, July 25th. Finally, ValuEngine downgraded Banco de Chile from a hold rating to a sell rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $46.67.
Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Banco de Chile by 43.4% during the second quarter. JPMorgan Chase & Co. now owns 39,540 shares of the bank’s stock worth $1,167,000 after purchasing an additional 11,966 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Banco de Chile by 8.7% during the second quarter. Crossmark Global Holdings Inc. now owns 27,302 shares of the bank’s stock worth $811,000 after purchasing an additional 2,185 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Banco de Chile by 45.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,092 shares of the bank’s stock worth $1,606,000 after purchasing an additional 16,926 shares in the last quarter. Citadel Advisors LLC purchased a new position in Banco de Chile during the second quarter worth approximately $456,000. Finally, Signaturefd LLC boosted its position in Banco de Chile by 25.3% during the third quarter. Signaturefd LLC now owns 3,929 shares of the bank’s stock worth $110,000 after purchasing an additional 793 shares in the last quarter. Institutional investors own 1.20% of the company’s stock.
Banco de Chile Company Profile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.
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