Banco De Chile (NYSE:BCH) Receives $40.00 Consensus Target Price from Brokerages

Shares of Banco De Chile (NYSE:BCH) have earned a consensus rating of “Reduce” from the five analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.00.

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. UBS Group set a $48.00 price target on Banco De Chile and gave the stock a “neutral” rating in a report on Friday, February 6th. Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. JPMorgan Chase & Co. lifted their target price on shares of Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, Zacks Research lowered shares of Banco De Chile from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th.

Institutional Trading of Banco De Chile

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TT International Asset Management LTD acquired a new position in Banco De Chile during the 3rd quarter worth about $26,962,000. UBS Group AG raised its position in shares of Banco De Chile by 110.0% during the fourth quarter. UBS Group AG now owns 494,082 shares of the bank’s stock worth $18,775,000 after acquiring an additional 258,844 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Banco De Chile by 199.1% in the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after acquiring an additional 234,619 shares during the period. Marshall Wace LLP boosted its holdings in Banco De Chile by 177.7% in the third 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, Cubist Systematic Strategies LLC boosted its holdings in Banco De Chile by 128.4% in the second quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock valued at $6,021,000 after acquiring an additional 111,253 shares during the last quarter. 1.24% of the stock is currently owned by institutional investors and hedge funds.

Banco De Chile Price Performance

BCH stock opened at $43.82 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. The company has a 50 day simple moving average of $40.73 and a 200 day simple moving average of $34.96. Banco De Chile has a 1 year low of $23.66 and a 1 year high of $46.77.

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

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.