Banco De Chile (NYSE:BCH) Sets New 1-Year High – Here’s What Happened

Shares of Banco De Chile (NYSE:BCH) hit a new 52-week high on Wednesday . The company traded as high as $41.48 and last traded at $41.2390, with a volume of 165848 shares changing hands. The stock had previously closed at $40.02.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BCH. The Goldman Sachs Group cut Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 target price for the company. in a research report on Tuesday, January 13th. JPMorgan Chase & Co. upped their price objective 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. Zacks Research downgraded shares of Banco De Chile from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $36.00.

Banco De Chile Trading Up 3.9%

The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.09 and a beta of 0.20. The business has a 50-day moving average of $38.23 and a two-hundred day moving average of $33.14.

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

Institutional Investors Weigh In On Banco De Chile

Several institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Banco De Chile by 161.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after acquiring an additional 929 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Banco De Chile by 276.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,845 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Banco De Chile by 2,425.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,401 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Banco De Chile by 1,355.4% in the second quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank’s stock worth $98,000 after purchasing an additional 3,009 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in Banco De Chile in the third quarter worth $145,000. Institutional investors 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.