Banco De Chile (NYSE:BCH) Sees Significant Drop in Short Interest

Banco De Chile (NYSE:BCH) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totaling 348,807 shares, a decrease of 18.3% from the December 15th total of 426,855 shares. Based on an average trading volume of 158,125 shares, the short-interest ratio is presently 2.2 days. Based on an average trading volume of 158,125 shares, the short-interest ratio is presently 2.2 days.

Banco De Chile Stock Down 0.5%

Banco De Chile stock traded down $0.19 during mid-day trading on Tuesday, reaching $39.92. The stock had a trading volume of 504,098 shares, compared to its average volume of 334,283. Banco De Chile has a one year low of $23.63 and a one year high of $41.37. The company has a 50-day moving average price of $38.17 and a two-hundred day moving average price of $33.07. The company has a market capitalization of $20.16 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.68 and a beta of 0.20. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.53 and a quick ratio of 1.53.

Banco De Chile (NYSE:BCH) last released its quarterly earnings data on Thursday, October 30th. The bank reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The firm had revenue of $764.93 million for the quarter, compared to the consensus estimate of $831.97 million. Banco De Chile had a net margin of 32.87% and a return on equity of 23.25%. On average, analysts expect that Banco De Chile will post 2.31 EPS for the current fiscal year.

Institutional Trading of Banco De Chile

Several institutional investors have recently added to or reduced their stakes in the business. TT International Asset Management LTD bought a new stake in shares of Banco De Chile in the 3rd quarter worth $26,962,000. Qube Research & Technologies Ltd increased its holdings in Banco De Chile by 199.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after buying an additional 234,619 shares in the last quarter. Marshall Wace LLP raised its position in Banco De Chile by 177.7% in the 3rd quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock worth $9,032,000 after buying an additional 190,741 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Banco De Chile in the 2nd quarter worth about $3,454,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Banco De Chile by 128.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock valued at $6,021,000 after acquiring an additional 111,253 shares during the period. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, October 8th. The Goldman Sachs Group downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 target price on the stock. in a research report on Tuesday, January 13th. Zacks Research lowered shares of Banco De Chile from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $36.00.

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.