TT International Asset Management LTD Acquires New Position in Banco De Chile $BCH

TT International Asset Management LTD purchased a new stake in Banco De Chile (NYSE:BCH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 889,851 shares of the bank’s stock, valued at approximately $26,962,000. Banco De Chile accounts for approximately 3.8% of TT International Asset Management LTD’s holdings, making the stock its 7th largest holding.

A number of other large investors have also modified their holdings of the stock. Osaic Holdings Inc. grew its stake in Banco De Chile by 83.2% during the 2nd quarter. Osaic Holdings Inc. now owns 11,363 shares of the bank’s stock worth $346,000 after purchasing an additional 5,161 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 buying an additional 2,401 shares during the period. Engineers Gate Manager LP grew its position in shares of Banco De Chile by 80.3% during the second quarter. Engineers Gate Manager LP now owns 18,447 shares of the bank’s stock worth $561,000 after buying an additional 8,217 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Banco De Chile by 128.4% during the second quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock worth $6,021,000 after buying an additional 111,253 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Banco De Chile by 560.6% during the second quarter. BNP Paribas Financial Markets now owns 32,998 shares of the bank’s stock worth $1,004,000 after buying an additional 28,003 shares during the period. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Analyst Upgrades and Downgrades

BCH has been the subject of a number of recent research reports. Zacks Research upgraded shares of Banco De Chile from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on shares of Banco De Chile from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. raised their price target on Banco De Chile from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen downgraded Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Banco De Chile Price Performance

Shares of NYSE:BCH opened at $38.26 on Tuesday. Banco De Chile has a 12 month low of $22.06 and a 12 month high of $39.19. The firm has a market capitalization of $19.33 billion, a P/E ratio of 13.67, a P/E/G ratio of 2.85 and a beta of 0.23. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.53 and a quick ratio of 1.53. The company’s fifty day moving average price is $35.44 and its 200 day moving average price is $31.50.

Banco De Chile (NYSE:BCH) last released its quarterly earnings data on Thursday, October 30th. The bank reported $0.60 earnings per share (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 company had revenue of $764.93 million during the quarter, compared to analyst estimates of $831.97 million. As a group, sell-side analysts predict that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

Banco De Chile Company Profile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.