Banco de Chile (NYSE:BCH) Sees Large Drop in Short Interest

Banco de Chile (NYSE:BCH) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 405,400 shares, a decline of 36.5% from the August 15th total of 638,300 shares. Based on an average trading volume of 93,700 shares, the short-interest ratio is presently 4.3 days.

Shares of BCH stock traded down $0.19 on Monday, hitting $19.33. 114,420 shares of the stock traded hands, compared to its average volume of 104,413. The company has a debt-to-equity ratio of 3.49, a current ratio of 1.45 and a quick ratio of 1.53. Banco de Chile has a 52 week low of $14.76 and a 52 week high of $25.12. The firm has a 50 day simple moving average of $18.46 and a two-hundred day simple moving average of $20.62. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.79 and a beta of 0.52.

Banco de Chile (NYSE:BCH) last posted its quarterly earnings results on Thursday, August 5th. The bank reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. The business had revenue of $654.10 million for the quarter, compared to analysts’ expectations of $652.94 million. Banco de Chile had a return on equity of 13.93% and a net margin of 23.24%. Sell-side analysts forecast that Banco de Chile will post 1.7 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Amundi purchased a new stake in Banco de Chile in the 2nd quarter worth $33,000. Schroder Investment Management Group purchased a new stake in shares of Banco de Chile in the first quarter worth about $259,000. Citadel Advisors LLC bought a new position in Banco de Chile during the first quarter valued at approximately $274,000. Schonfeld Strategic Advisors LLC purchased a new position in Banco de Chile during the 1st quarter valued at approximately $284,000. Finally, WINTON GROUP Ltd bought a new stake in Banco de Chile in the 2nd quarter worth approximately $271,000. 0.95% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered Banco de Chile from a “buy” rating to a “hold” rating in a report on Monday, July 19th.

About Banco de Chile

Banco de Chile SA engages in the provision of banking services. It operates through the following segments: Retail, Wholesale, Treasury, and Subsidiaries. The Retail segment consists of consumer loans, commercial loans, checking accounts, credit cards, credit lines, and mortgage loans. The Wholesale segment includes corporate clients and large companies where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts, and leases.

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