Several other research firms have also issued reports on BCH. Zacks Investment Research lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Scotiabank raised shares of Banco de Chile from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 25th. Finally, Goldman Sachs Group began coverage on shares of Banco de Chile in a research note on Tuesday. They set a “neutral” rating and a $29.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.67.
BCH stock opened at $28.82 on Wednesday. The company’s 50-day simple moving average is $28.74 and its 200-day simple moving average is $29.31. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 2.79. Banco de Chile has a 52-week low of $27.04 and a 52-week high of $32.83. The firm has a market cap of $14.69 billion, a P/E ratio of 16.95, a PEG ratio of 1.67 and a beta of 0.42.
Banco de Chile (NYSE:BCH) last posted its earnings results on Monday, July 29th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Banco de Chile had a net margin of 23.67% and a return on equity of 17.06%. The business had revenue of $704.80 million for the quarter, compared to analyst estimates of $717.93 million. On average, analysts anticipate that Banco de Chile will post 1.81 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB acquired a new position in shares of Banco de Chile during the 1st quarter worth about $447,768,000. Renaissance Technologies LLC raised its holdings in Banco de Chile by 1.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,101,975 shares of the bank’s stock valued at $62,408,000 after acquiring an additional 20,519 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Banco de Chile by 199.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 537,102 shares of the bank’s stock valued at $15,365,000 after acquiring an additional 357,982 shares during the last quarter. Bank of America Corp DE raised its holdings in Banco de Chile by 6.5% in the 2nd quarter. Bank of America Corp DE now owns 220,077 shares of the bank’s stock valued at $6,534,000 after acquiring an additional 13,527 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Banco de Chile by 45.5% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,092 shares of the bank’s stock valued at $1,606,000 after acquiring an additional 16,926 shares during the last quarter. Hedge funds and other institutional investors own 1.20% of the company’s stock.
About Banco de Chile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.
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