Banco de Chile (NYSE:BCH) Shares Pass Above Two Hundred Day Moving Average of $22.81

Shares of Banco de Chile (NYSE:BCH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.81 and traded as high as $22.92. Banco de Chile shares last traded at $22.58, with a volume of 130,705 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Banco de Chile from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Banco de Chile from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th.

Banco de Chile Stock Performance

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.97. The business’s 50 day moving average is $23.27 and its two-hundred day moving average is $22.81. The company has a market cap of $11.43 billion, a PE ratio of 7.62 and a beta of 0.41.

Banco de Chile (NYSE:BCH) last released its earnings results on Tuesday, April 30th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Banco de Chile had a net margin of 29.41% and a return on equity of 23.65%. The company had revenue of $824.83 million for the quarter, compared to analysts’ expectations of $818.94 million. On average, equities research analysts anticipate that Banco de Chile will post 2.18 EPS for the current year.

Institutional Trading of Banco de Chile

Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its stake in Banco de Chile by 30.4% in the 3rd quarter. FMR LLC now owns 418,556 shares of the bank’s stock worth $8,455,000 after purchasing an additional 97,601 shares in the last quarter. Wellington Management Group LLP lifted its stake in Banco de Chile by 143.6% in the 4th quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock worth $6,479,000 after purchasing an additional 165,467 shares in the last quarter. Bessemer Group Inc. purchased a new stake in Banco de Chile in the 1st quarter worth $6,189,000. Alberta Investment Management Corp raised its position in shares of Banco de Chile by 215.2% during the 4th quarter. Alberta Investment Management Corp now owns 146,633 shares of the bank’s stock valued at $3,384,000 after buying an additional 100,108 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Banco de Chile by 17.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,367 shares of the bank’s stock valued at $2,614,000 after buying an additional 17,241 shares in the last quarter. Hedge funds and other institutional investors own 1.24% of the company’s stock.

About Banco de Chile

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.