Banco De Chile (NYSE:BCH) Shares Gap Down – Time to Sell?

Banco De Chile (NYSE:BCH) shares gapped down before the market opened on Monday . The stock had previously closed at $38.05, but opened at $36.11. Banco De Chile shares last traded at $35.2260, with a volume of 29,403 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BCH shares. JPMorgan Chase & Co. increased their price objective on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. UBS Group set a $48.00 target price on Banco De Chile and gave the stock a “neutral” rating in a research report on Friday, February 6th. Zacks Research upgraded Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $40.00.

Banco De Chile Trading Down 6.9%

The firm has a market cap of $17.90 billion, a P/E ratio of 12.69 and a beta of 0.20. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.59 and a quick ratio of 1.53. The stock has a 50 day moving average of $41.59 and a 200 day moving average of $37.51.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Thursday, January 29th. The bank reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). Banco De Chile had a return on equity of 23.94% and a net margin of 33.09%.The firm had revenue of $831.63 million for the quarter, compared to the consensus estimate of $878.92 million. As a group, equities research analysts predict that Banco De Chile will post 2.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC purchased a new position in shares of Banco De Chile during the fourth quarter worth approximately $878,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Banco De Chile by 40,350.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 809 shares of the bank’s stock valued at $31,000 after purchasing an additional 807 shares in the last quarter. Compound Planning Inc. bought a new position in shares of Banco De Chile during the 4th quarter valued at $271,000. XTX Topco Ltd bought a new position in shares of Banco De Chile during the 4th quarter valued at $890,000. Finally, Millennium Management LLC raised its position in Banco De Chile by 56.0% in the 4th quarter. Millennium Management LLC now owns 75,883 shares of the bank’s stock worth $2,884,000 after purchasing an additional 27,232 shares during the period. 1.24% of the stock is currently owned by institutional investors.

Banco De Chile Company Profile

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.