Banco De Chile (NYSE:BCH) Price Target Raised to $45.00 at JPMorgan Chase & Co.

Banco De Chile (NYSE:BCH) had its price target upped by JPMorgan Chase & Co. from $42.00 to $45.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the bank’s stock.

BCH has been the subject of several other research reports. 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 upgraded Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Banco De Chile has an average rating of “Reduce” and an average price target of $40.00.

Banco De Chile Stock Performance

BCH opened at $41.29 on Friday. The firm has a market cap of $20.85 billion, a P/E ratio of 15.64 and a beta of 0.24. Banco De Chile has a 1-year low of $28.26 and a 1-year high of $46.77. The company has a 50 day simple moving average of $39.86 and a two-hundred day simple moving average of $39.80. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.49.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 earnings per share (EPS) for the quarter. The firm had revenue of $999.95 million during the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. Equities analysts forecast that Banco De Chile will post 2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Several hedge funds have recently modified their holdings of BCH. Goldman Sachs Group Inc. boosted its position in shares of Banco De Chile by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock worth $5,747,000 after acquiring an additional 75,924 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Banco De Chile in the 2nd quarter valued at $1,266,000. EverSource Wealth Advisors LLC lifted its stake 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 worth $46,000 after purchasing an additional 929 shares in the last quarter. First Trust Advisors LP purchased a new stake in Banco De Chile in the 2nd quarter worth $238,000. Finally, Flow Traders U.S. LLC purchased a new stake in Banco De Chile in the 2nd quarter worth $323,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Banco De Chile Company 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.