Bessemer Group Inc. Sells 59,790 Shares of Banco De Chile $BCH

Bessemer Group Inc. cut its stake in Banco De Chile (NYSE:BCH) by 13.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 396,658 shares of the bank’s stock after selling 59,790 shares during the quarter. Bessemer Group Inc.’s holdings in Banco De Chile were worth $14,692,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BCH. Goldman Sachs Group Inc. lifted its holdings in shares of Banco De Chile by 53.8% in the first 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. Arrowstreet Capital Limited Partnership bought a new stake in Banco De Chile during the second quarter worth $1,266,000. EverSource Wealth Advisors LLC raised its position 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 valued at $46,000 after buying an additional 929 shares during the last quarter. First Trust Advisors LP purchased a new stake in Banco De Chile in the 2nd quarter valued at $238,000. Finally, Flow Traders U.S. LLC bought a new position in Banco De Chile during the 2nd quarter valued at $323,000. Institutional investors own 1.24% of the company’s stock.

Analysts Set New Price Targets

BCH has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group set a $39.00 target price on shares of Banco De Chile and gave the company a “neutral” rating in a report on Friday, May 22nd. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Banco De Chile presently has an average rating of “Reduce” and a consensus target price of $37.00.

Banco De Chile Price Performance

Shares of NYSE BCH opened at $40.16 on Friday. The company has a market capitalization of $20.28 billion, a PE ratio of 16.60 and a beta of 0.23. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average price is $38.61 and its 200-day moving average price is $39.63. Banco De Chile has a twelve month low of $27.08 and a twelve month high of $46.77.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.57 EPS for the quarter. The company had revenue of $321.27 million during the quarter. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%. On average, equities analysts anticipate that Banco De Chile will post 2.76 EPS for the current year.

Banco De Chile 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.