Banco De Chile (NYSE:BCH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Banco De Chile (NYSE:BCH) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $42.00 to $45.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.09% from the stock’s current price.

BCH has been the topic of a number of other research reports. Weiss Ratings raised Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. UBS Group set a $39.00 price objective on Banco De Chile and gave the stock a “neutral” rating in a report on Friday, May 22nd. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $40.00.

Banco De Chile Stock Performance

Shares of NYSE:BCH traded down $0.91 during mid-day trading on Friday, reaching $41.25. The company had a trading volume of 217,783 shares, compared to its average volume of 378,885. Banco De Chile has a one year low of $28.26 and a one year high of $46.77. The company has a current ratio of 1.48, a quick ratio of 1.49 and a debt-to-equity ratio of 1.94. The company’s 50-day moving average price is $39.79 and its 200-day moving average price is $39.79. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 15.64 and a beta of 0.24.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 earnings per share for the quarter. Banco De Chile had a return on equity of 21.10% and a net margin of 31.01%.The business had revenue of $999.95 million during the quarter. As a group, equities research analysts anticipate that Banco De Chile will post 2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Several hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Banco De Chile by 33,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after purchasing an additional 678 shares during the period. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 929 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Banco De Chile in the 1st quarter worth about $53,000. Smartleaf Asset Management LLC grew its holdings in Banco De Chile by 286.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after buying an additional 1,276 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Banco De Chile by 2,425.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after buying an additional 2,401 shares in the last quarter. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

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.