Renaissance Technologies LLC Sells 86,400 Shares of Banco De Chile $BCH

Renaissance Technologies LLC trimmed its position in Banco De Chile (NYSE:BCH) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,207,932 shares of the bank’s stock after selling 86,400 shares during the quarter. Renaissance Technologies LLC owned about 0.24% of Banco De Chile worth $44,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. boosted its position in Banco De Chile by 29.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 835,782 shares of the bank’s stock valued at $31,755,000 after buying an additional 190,567 shares during the last quarter. UBS Group AG lifted its stake in Banco De Chile by 110.0% during the 4th quarter. UBS Group AG now owns 494,082 shares of the bank’s stock valued at $18,775,000 after acquiring an additional 258,844 shares during the period. Qube Research & Technologies Ltd lifted its stake in Banco De Chile by 199.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock valued at $10,680,000 after acquiring an additional 234,619 shares during the period. Marshall Wace LLP boosted its holdings in shares of Banco De Chile by 177.7% in the 3rd quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock valued at $9,032,000 after acquiring an additional 190,741 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Banco De Chile by 53.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after acquiring an additional 75,924 shares during the last quarter. Institutional investors and hedge funds own 1.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BCH shares. UBS Group set a $39.00 target price on shares of Banco De Chile and gave the stock a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings lowered shares of Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Banco De Chile presently has a consensus rating of “Reduce” and an average target price of $37.00.

Banco De Chile Trading Up 1.6%

Shares of NYSE:BCH opened at $41.36 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.00. Banco De Chile has a 12-month low of $27.08 and a 12-month high of $46.77. The business has a 50 day moving average of $39.22 and a two-hundred day moving average of $39.73. The company has a market capitalization of $20.89 billion, a PE ratio of 17.09 and a beta of 0.23.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $0.57 EPS for the quarter. The business had revenue of $321.27 million for the quarter. Banco De Chile had a net margin of 29.95% and a return on equity of 19.47%. As a group, analysts forecast that Banco De Chile will post 2.76 EPS for the current year.

Banco De Chile Profile

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.