Banco De Chile (NYSE:BCH) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Banco De Chile (NYSE:BCH) had its price target hoisted by investment analysts at The Goldman Sachs Group from $31.00 to $35.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 4.23% from the stock’s previous close.

Several other analysts also recently weighed in on BCH. JPMorgan Chase & Co. increased their target price on Banco De Chile from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded shares of Banco De Chile from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Banco De Chile from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Banco De Chile presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Banco De Chile Stock Performance

Shares of Banco De Chile stock traded up $0.06 on Tuesday, reaching $36.55. The stock had a trading volume of 136,632 shares, compared to its average volume of 304,424. Banco De Chile has a fifty-two week low of $22.06 and a fifty-two week high of $36.95. The business’s 50-day moving average price is $31.75 and its two-hundred day moving average price is $30.31. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $18.46 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.28.

Banco De Chile (NYSE:BCH) last released its earnings results on Thursday, October 30th. The bank reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%.The firm had revenue of $675.26 million for the quarter, compared to analyst estimates of $831.97 million. On average, sell-side analysts forecast that Banco De Chile will post 2.31 EPS for the current year.

Institutional Investors Weigh In On Banco De Chile

Large investors have recently modified their holdings of the stock. Pekin Hardy Strauss Inc. bought a new position in shares of Banco De Chile during the 3rd quarter worth approximately $288,000. Profund Advisors LLC grew its holdings in shares of Banco De Chile by 5.5% in the 3rd quarter. Profund Advisors LLC now owns 10,443 shares of the bank’s stock worth $316,000 after purchasing an additional 543 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Banco De Chile by 222.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 8,110 shares of the bank’s stock worth $246,000 after purchasing an additional 5,597 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Banco De Chile in the third quarter valued at about $757,000. Finally, Truxt Investmentos Ltda. bought a new stake in Banco De Chile during the third quarter worth about $2,114,000. 1.24% of the stock is currently owned by institutional investors.

About Banco De Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.