Banco De Chile $BCH Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. grew its position in shares of Banco De Chile (NYSE:BCH) by 16.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 467,468 shares of the bank’s stock after purchasing an additional 65,708 shares during the period. Bessemer Group Inc. owned approximately 0.09% of Banco De Chile worth $14,220,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in Banco De Chile by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after acquiring an additional 75,924 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Banco De Chile by 104.6% in the 1st quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank’s stock valued at $11,054,000 after acquiring an additional 223,565 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Banco De Chile by 289.5% in the first quarter. Cubist Systematic Strategies LLC now owns 86,678 shares of the bank’s stock worth $2,296,000 after buying an additional 64,425 shares during the period. MGO One Seven LLC purchased a new position in Banco De Chile during the 2nd quarter valued at about $383,000. Finally, XTX Topco Ltd acquired a new position in Banco De Chile in the 1st quarter valued at approximately $245,000. 1.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of 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 upgraded Banco De Chile from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Banco De Chile currently has an average rating of “Hold” and a consensus target price of $33.00.

Banco De Chile Trading Up 0.6%

Shares of NYSE BCH opened at $34.29 on Wednesday. Banco De Chile has a 1-year low of $22.06 and a 1-year high of $34.41. The company has a 50-day moving average of $30.51 and a two-hundred day moving average of $29.84. The company has a market cap of $17.32 billion, a PE ratio of 12.20, a P/E/G ratio of 2.52 and a beta of 0.26. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.09.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Thursday, July 31st. The bank reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Banco De Chile had a net margin of 32.62% and a return on equity of 23.00%. The business had revenue of $801.11 million during the quarter, compared to analyst estimates of $820.11 million. As a group, equities analysts expect that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

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.