Banco de Chile (NYSE:BCH) Receives $23.00 Average Target Price from Brokerages

Banco de Chile (NYSE:BCH – Get Rating) has earned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $23.00.

Separately, StockNews.com initiated coverage on shares of Banco de Chile in a report on Thursday. They set a “hold” rating on the stock.

Hedge Funds Weigh In On Banco de Chile

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in shares of Banco de Chile by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,663,554 shares of the bank’s stock worth $30,327,000 after buying an additional 38,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Banco de Chile by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 597,813 shares of the bank’s stock worth $12,795,000 after buying an additional 7,462 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Banco de Chile by 14.6% in the 4th quarter. Morgan Stanley now owns 366,782 shares of the bank’s stock worth $7,636,000 after buying an additional 46,819 shares during the last quarter. BlackRock Inc. raised its stake in Banco de Chile by 80.4% in the 3rd quarter. BlackRock Inc. now owns 256,655 shares of the bank’s stock valued at $4,536,000 after acquiring an additional 114,359 shares during the period. Finally, FMR LLC raised its stake in Banco de Chile by 9.3% in the 2nd quarter. FMR LLC now owns 253,516 shares of the bank’s stock valued at $4,621,000 after acquiring an additional 21,640 shares during the period. 0.99% of the stock is owned by hedge funds and other institutional investors.

Banco de Chile Stock Performance

NYSE BCH opened at $18.11 on Thursday. The company has a fifty day simple moving average of $21.21 and a 200 day simple moving average of $19.63. Banco de Chile has a 12-month low of $15.64 and a 12-month high of $22.74. The company has a current ratio of 1.71, a quick ratio of 1.52 and a debt-to-equity ratio of 3.02. The company has a market cap of $9.15 billion, a P/E ratio of 5.54, a PEG ratio of 1.31 and a beta of 0.36.

Banco de Chile Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, March 30th. Investors of record on Friday, March 17th will be issued a $1.3688 dividend. This is an increase from Banco de Chile’s previous annual dividend of $1.33. This represents a dividend yield of 5%. The ex-dividend date of this dividend is Thursday, March 16th. Banco de Chile’s payout ratio is 31.50%.

Banco de Chile Company Profile

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Banco de Chile SA engages in the provision of banking services. It operates through the following segments: Retail, Wholesale, Treasury, and Subsidiaries. The Retail segment consists of consumer loans, commercial loans, checking accounts, credit cards, credit lines, and mortgage loans. The Wholesale segment includes corporate clients and large companies where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts, and leases.