Banco de Chile (NYSE:BCH – Get Rating) was upgraded from a “hold” rating to a “buy” rating by StockNews.com in a note to investors on Friday.
Separately, Credit Suisse Group lowered its target price on shares of Banco de Chile to $21.00 in a research report on Monday, August 22. Four investment analysts have rated the stock with a hold rating and four with a buy rating. According to data from MarketBeat.com, Banco de Chile currently has a consensus rating of Moderate Buy and a consensus price target of $23.00.
Banco de Chile trading up 1.7%
NYSE:BCH rose $0.31 during trading hours on Friday to hit $18.05. The stock had a trading volume of 221,027 shares compared to an average volume of 152,319. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 5.34, a P/E ratio of 0.80 and a beta of 0.38. Banco de Chile has a yearly low of $15.60 and a yearly high of $22.74. The company has a gearing ratio of 3.17, a quick ratio of 1.46 and a current ratio of 1.46. The company’s 50-day moving average is $18.62 and its 200-day moving average is $19.20.
Banco de Chile (NYSE:BCH – Get Rating) last announced its quarterly earnings results on Friday, July 29th. The bank reported earnings per share of $1.03 for the quarter, beating analyst consensus estimates of $0.63 by $0.40. The company had revenue of $580.90 million for the quarter, compared to analyst estimates of $792.40 million. Banco de Chile had a net margin of 49.07% and a return on equity of 32.11%. Sell-side analysts expect Banco de Chile to post 2.84 EPS for the current fiscal year.
Institutional investors rely on Banco de Chile
A number of institutional investors have recently added to or reduced their stakes in BCH. TCW Group Inc. acquired a new stake in Banco de Chile stock valued at approximately $290,000 during the first quarter. Whittier Trust Co. acquired a new interest in Banco de Chile for approximately $230,000 during the first quarter. Envestnet Asset Management Inc. increased its position in Banco de Chile by 107.8% in the first quarter. Vestnet Asset Management Inc. now owns 21,082 shares of the bank valued at $452,000 after purchasing an additional 10,935 shares during the period. Crossmark Global Holdings Inc. increased its stake in Banco de Chile by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank, valued at $522,000, after purchasing an additional 612 shares last quarter. Finally, during Q1, Banco BTG Pactual SA acquired a new position in shares of Banco de Chile valued at approximately $3,268,000. 1.10% of the shares are owned by institutional investors.
About the Banco de Chile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking, and treasury and money market segments. The Company offers deposit products such as current accounts, checking accounts, demand deposits and accounts, savings accounts and time deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
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