Banco de Chile (NYSE:BCH) Shares Pass Above Two Hundred Day Moving Average of $17.93

Banco de Chile (NYSE:BCH) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.93 and traded as high as $21.97. Banco de Chile shares last traded at $21.83, with a volume of 69,881 shares traded.

A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Banco de Chile from a “sell” rating to a “hold” rating in a research note on Friday, November 6th. Itau BBA Securities raised shares of Banco de Chile from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Tuesday, November 17th. Finally, Zacks Investment Research raised shares of Banco de Chile from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Wednesday, January 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $24.00.

The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 3.46. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.91 and a beta of 0.52. The company’s 50-day simple moving average is $20.10 and its 200 day simple moving average is $17.93.

Banco de Chile (NYSE:BCH) last released its quarterly earnings results on Friday, October 30th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). Banco de Chile had a net margin of 19.06% and a return on equity of 13.35%. The firm had revenue of $517.19 million for the quarter, compared to the consensus estimate of $560.97 million. On average, equities analysts expect that Banco de Chile will post 1.17 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC boosted its holdings in Banco de Chile by 3.6% during the third quarter. Aperio Group LLC now owns 173,419 shares of the bank’s stock valued at $2,622,000 after acquiring an additional 6,000 shares during the period. Neuberger Berman Group LLC bought a new stake in Banco de Chile during the second quarter valued at about $246,000. Thrivent Financial for Lutherans bought a new stake in Banco de Chile during the third quarter valued at about $267,000. Finally, Newfoundland Capital Management bought a new stake in Banco de Chile during the third quarter valued at about $587,000.

Banco de Chile Company Profile (NYSE:BCH)

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 Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits and accounts, saving accounts, and time deposits; commercial, mortgage, micro entrepreneurial, and installment loans; and credit and debit cards.

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