Banco De Chile $BCH Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. lessened its holdings in Banco De Chile (NYSE:BCH) by 96.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062 shares of the bank’s stock after selling 32,283 shares during the period. SBI Securities Co. Ltd.’s holdings in Banco De Chile were worth $32,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Banco De Chile by 161.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after purchasing an additional 929 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Banco De Chile by 276.2% in 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 last quarter. Tower Research Capital LLC TRC lifted its position 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 lifted its position in shares of Banco De Chile by 62.3% in the third quarter. Farther Finance Advisors LLC now owns 5,245 shares of the bank’s stock valued at $159,000 after acquiring an additional 2,014 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Banco De Chile during the second quarter valued at $234,000. 1.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. UBS Group set a $48.00 price objective on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, January 21st. Zacks Research cut shares of Banco De Chile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. boosted their price target on Banco De Chile from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $40.00.

Banco De Chile Stock Down 4.6%

Shares of BCH opened at $43.82 on Friday. Banco De Chile has a twelve month low of $23.66 and a twelve month high of $46.77. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 2.09. The stock’s fifty day simple moving average is $40.73 and its 200 day simple moving average is $34.96.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings results on Tuesday, February 3rd. The bank reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). The firm had revenue of $826.07 million for the quarter, compared to analyst estimates of $878.92 million. Banco De Chile had a return on equity of 23.94% and a net margin of 33.09%. Equities research analysts expect that Banco De Chile will post 2.31 earnings per share for the current year.

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.