Banco De Chile (NYSE:BCH) Shares Down 6.7% – Should You Sell?

Banco De Chile (NYSE:BCH) fell 6.7% during trading on Wednesday . The stock traded as low as $37.90 and last traded at $35.30. 42,376 shares changed hands during trading, a decline of 86% from the average session volume of 298,420 shares. The stock had previously closed at $37.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. The Goldman Sachs Group lifted their price target on shares of Banco De Chile from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. increased their price objective on Banco De Chile from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Zacks Research cut Banco De Chile from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Banco De Chile currently has a consensus rating of “Hold” and an average price target of $34.00.

Banco De Chile Stock Down 6.7%

The business has a fifty day moving average of $36.24 and a 200 day moving average of $31.81. The company has a market capitalization of $17.83 billion, a PE ratio of 12.61, a PEG ratio of 2.80 and a beta of 0.23. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.00.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The business had revenue of $764.93 million for the quarter, compared to analysts’ expectations of $831.97 million. Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%. Equities research analysts anticipate that Banco De Chile will post 2.31 EPS for the current year.

Institutional Investors Weigh In On Banco De Chile

A number of hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in Banco De Chile by 161.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after buying an additional 929 shares during the period. Hantz Financial Services Inc. increased its position in shares of Banco De Chile by 276.2% during the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock worth $76,000 after acquiring an additional 1,845 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Banco De Chile by 2,425.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after acquiring an additional 2,401 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Banco De Chile by 1,355.4% in the second quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank’s stock valued at $98,000 after acquiring an additional 3,009 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in Banco De Chile in the third quarter valued at $145,000. 1.24% of the stock is currently owned by institutional investors and hedge funds.

About Banco De Chile

Banco de Chile (NYSE: BCH) is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country’s oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank’s core businesses include retail banking, commercial and corporate banking, and investment banking.