UBS Group AG Raises Stock Holdings in Banco De Chile $BCH

UBS Group AG grew its stake in Banco De Chile (NYSE:BCH) by 110.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494,082 shares of the bank’s stock after buying an additional 258,844 shares during the period. UBS Group AG’s holdings in Banco De Chile were worth $18,775,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BCH. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 929 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Banco De Chile by 6.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,396 shares of the bank’s stock valued at $167,000 after purchasing an additional 255 shares in the last quarter. Focus Partners Wealth purchased a new stake in Banco De Chile during the third quarter valued at about $145,000. Finally, Tuttle Capital Management LLC bought a new stake in Banco De Chile during the fourth quarter worth about $235,000. Institutional investors own 1.24% of the company’s stock.

Banco De Chile Stock Down 1.8%

Shares of NYSE:BCH opened at $35.43 on Tuesday. The stock has a market capitalization of $17.89 billion, a P/E ratio of 14.64 and a beta of 0.24. The stock’s 50-day moving average price is $38.23 and its 200-day moving average price is $38.98. 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.

Banco De Chile (NYSE:BCH) last released its earnings results on Tuesday, March 31st. The bank reported $0.57 earnings per share for the quarter. The company had revenue of $321.27 million during the quarter. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%. On average, equities analysts anticipate that Banco De Chile will post 2.83 earnings per share for the current year.

Banco De Chile Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Monday, April 13th. Stockholders of record on Monday, March 30th were paid a dividend of $2.1877 per share. The ex-dividend date of this dividend was Monday, March 30th. Banco De Chile’s dividend payout ratio is 68.18%.

Analysts Set New Price Targets

Several equities analysts have recently commented on BCH shares. JPMorgan Chase & Co. increased their price objective on Banco De Chile from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 target price for the company. in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research report on Monday, April 20th. Zacks Research raised shares of Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, UBS Group set a $48.00 price objective on shares of Banco De Chile and gave the stock a “neutral” rating in a report on Friday, February 6th. Four investment 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, the stock has an average rating of “Reduce” and an average price target of $40.00.

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.