Banco de Chile (BCH) Shares Bought by Mirae Asset Global Investments Co. Ltd.
Mirae Asset Global Investments Co. Ltd. boosted its position in Banco de Chile (NYSE:BCH) by 138.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,181 shares of the bank’s stock after buying an additional 9,977 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Banco de Chile were worth $492,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in Banco de Chile by 146.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,035 shares of the bank’s stock valued at $29,000 after buying an additional 615 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Banco de Chile by 2,974.8% in the fourth quarter. Quadrant Capital Group LLC now owns 5,012 shares of the bank’s stock valued at $142,000 after buying an additional 4,849 shares during the last quarter. Parallel Advisors LLC increased its holdings in Banco de Chile by 200.0% in the fourth quarter. Parallel Advisors LLC now owns 5,562 shares of the bank’s stock valued at $159,000 after buying an additional 3,708 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Banco de Chile in the third quarter valued at about $644,000. Finally, World Asset Management Inc increased its holdings in Banco de Chile by 78.8% in the fourth quarter. World Asset Management Inc now owns 7,688 shares of the bank’s stock valued at $220,000 after buying an additional 3,388 shares during the last quarter. 1.28% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on BCH. Zacks Investment Research raised Banco de Chile from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, February 28th. ValuEngine lowered Banco de Chile from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, Credit Suisse Group set a $76.00 target price on Banco de Chile and gave the company a “hold” rating in a report on Thursday, December 20th.
The business also recently announced a special dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 22nd will be issued a dividend of $1.0575 per share. This represents a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, March 21st. Banco de Chile’s dividend payout ratio (DPR) is presently 45.29%.
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Banco de Chile Profile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.
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