Banco De Chile (NYSE:BCH) Stock Rating Upgraded by Zacks Research

Banco De Chile (NYSE:BCH) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. 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 note on Tuesday, January 13th. Wall Street Zen downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. UBS Group set a $48.00 price target on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. raised 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Banco De Chile has a consensus rating of “Reduce” and an average price target of $40.00.

Banco De Chile Trading Down 6.8%

NYSE:BCH opened at $37.33 on Wednesday. Banco De Chile has a 12 month low of $23.66 and a 12 month high of $46.77. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 2.09. The firm’s 50 day moving average is $41.99 and its 200 day moving average is $36.71.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings data on Tuesday, February 3rd. The bank reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. The firm had revenue of $826.07 million for the quarter, compared to the consensus estimate of $878.92 million. Equities research analysts expect that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Banco De Chile by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after purchasing an additional 75,924 shares in the last quarter. Savant Capital LLC bought a new stake in Banco De Chile during the second quarter valued at $241,000. Campbell & CO Investment Adviser LLC grew its position in Banco De Chile by 185.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 26,095 shares of the bank’s stock worth $794,000 after buying an additional 16,948 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Banco De Chile by 8,516.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 33,345 shares of the bank’s stock worth $1,014,000 after acquiring an additional 32,958 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Banco De Chile by 27.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,578 shares of the bank’s stock valued at $291,000 after acquiring an additional 2,055 shares in the last quarter. 1.24% of the stock is 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.