Banco De Chile (NYSE:BCH) Receives Average Recommendation of “Reduce” from Brokerages

Banco De Chile (NYSE:BCH) has received an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $40.00.

Several brokerages recently weighed in on BCH. JPMorgan Chase & Co. upped their price target on Banco De Chile from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings raised Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. UBS Group set a $39.00 target price on shares of Banco De Chile and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Banco De Chile from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Hedge Funds Weigh In On Banco De Chile

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ABS Direct Equity Fund LLC bought a new stake in shares of Banco De Chile in the 2nd quarter worth approximately $749,000. Nykredit A S purchased a new stake in shares of Banco De Chile in the 2nd quarter worth approximately $430,000. Public Employees Retirement System of Ohio bought a new position in Banco De Chile during the 2nd quarter valued at approximately $313,000. Hennion & Walsh Asset Management Inc. increased its position in Banco De Chile by 17.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 69,482 shares of the bank’s stock valued at $2,763,000 after buying an additional 10,157 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Banco De Chile by 94.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,944 shares of the bank’s stock valued at $109,000 after buying an additional 1,433 shares during the last quarter. Institutional investors own 1.24% of the company’s stock.

Banco De Chile Stock Performance

Banco De Chile stock opened at $40.80 on Friday. Banco De Chile has a fifty-two week low of $29.11 and a fifty-two week high of $46.77. The stock’s 50 day simple moving average is $41.35 and its two-hundred day simple moving average is $39.38. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $20.61 billion, a price-to-earnings ratio of 15.45 and a beta of 0.23.

Banco De Chile (NYSE:BCH) last announced its earnings results 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 return on equity of 21.10% and a net margin of 31.01%. As a group, analysts expect that Banco De Chile will post 2.87 earnings per share for the current fiscal year.

Banco De Chile Company Profile

Banco de Chile is a full-service financial institution headquartered in Santiago, Chile. Founded in 1893, it is one of the country’s largest and longest-established banks and serves individuals, businesses, corporations and institutional clients.

The bank provides a broad range of banking and financial services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, cash management, trade finance and foreign-exchange services.