Banco De Chile (NYSE:BCH) Posts Earnings Results

Banco De Chile (NYSE:BCH) announced its quarterly earnings results on Tuesday. The bank reported $0.58 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $826.07 million during the quarter. Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%.

Banco De Chile Stock Up 3.4%

NYSE BCH traded up $1.51 on Tuesday, hitting $46.30. 373,500 shares of the company were exchanged, compared to its average volume of 402,432. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.00. The company has a market cap of $22.04 billion, a PE ratio of 16.54, a PEG ratio of 1.22 and a beta of 0.20. The stock has a fifty day moving average of $39.57 and a 200-day moving average of $34.11. Banco De Chile has a 12 month low of $23.66 and a 12 month high of $46.77.

Wall Street Analyst Weigh In

BCH has been the subject of several recent analyst reports. Zacks Research downgraded shares of Banco De Chile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. upped their price target on shares of Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Wall Street Zen cut Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. The Goldman Sachs Group lowered Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Banco De Chile has a consensus rating of “Reduce” and a consensus target price of $36.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BCH. Goldman Sachs Group Inc. boosted its position in Banco De Chile by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock worth $5,747,000 after purchasing an additional 75,924 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Banco De Chile during the second quarter valued at about $3,454,000. Triasima Portfolio Management inc. increased its holdings in Banco De Chile by 227.3% during the second quarter. Triasima Portfolio Management inc. now owns 77,380 shares of the bank’s stock worth $2,354,000 after buying an additional 53,735 shares during the last quarter. MGO One Seven LLC bought a new stake in Banco De Chile in the second quarter worth about $383,000. Finally, Yousif Capital Management LLC boosted its stake in Banco De Chile by 4.8% in the second quarter. Yousif Capital Management LLC now owns 8,145 shares of the bank’s stock valued at $248,000 after acquiring an additional 375 shares during the last quarter. Institutional investors and hedge funds own 1.24% of the company’s stock.

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.