Banco De Chile (NYSE:BCH) Releases Earnings Results, Beats Estimates By $0.21 EPS

Banco De Chile (NYSE:BCH) released its quarterly earnings results on Friday. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.21, Zacks reports. The business had revenue of $988.91 million during the quarter, compared to analysts’ expectations of $977.17 million. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%.

Banco De Chile Price Performance

Shares of BCH opened at $41.42 on Friday. The company has a market cap of $20.92 billion, a P/E ratio of 17.11 and a beta of 0.23. Banco De Chile has a fifty-two week low of $27.08 and a fifty-two week high of $46.77. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.00. The firm’s 50 day moving average price is $39.52 and its 200 day moving average price is $39.76.

Hedge Funds Weigh In On Banco De Chile

Several institutional investors have recently modified their holdings of BCH. O Shaughnessy Asset Management LLC raised its stake in shares of Banco De Chile by 3.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 18,508 shares of the bank’s stock valued at $703,000 after acquiring an additional 651 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Banco De Chile by 33,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock worth $26,000 after purchasing an additional 678 shares in the last quarter. Natixis Advisors LLC increased its holdings in Banco De Chile by 4.1% during the 4th quarter. Natixis Advisors LLC now owns 17,987 shares of the bank’s stock worth $684,000 after purchasing an additional 710 shares during the period. Guggenheim Capital LLC increased its holdings in Banco De Chile by 1.2% during the 4th quarter. Guggenheim Capital LLC now owns 61,365 shares of the bank’s stock worth $2,332,000 after purchasing an additional 726 shares during the period. Finally, Lazard Asset Management LLC raised its position in Banco De Chile by 3.8% in the 3rd quarter. Lazard Asset Management LLC now owns 24,515 shares of the bank’s stock valued at $743,000 after purchasing an additional 906 shares in the last quarter. Institutional investors and hedge funds own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BCH shares. 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. UBS Group set a $39.00 price target on Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, May 22nd. 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, the company presently has an average rating of “Reduce” and an average target price of $37.00.

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.