Banco De Chile (NYSE:BCH) Downgraded to Sell Rating by Wall Street Zen

Banco De Chile (NYSE:BCH) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Friday.

Several other research analysts also recently weighed in on the company. The Goldman Sachs Group upped their price target on Banco De Chile from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Zacks Research raised shares of Banco De Chile from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Banco De Chile from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Banco De Chile has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Banco De Chile Price Performance

BCH stock traded up $0.43 during trading on Friday, reaching $37.78. The company’s stock had a trading volume of 118,310 shares, compared to its average volume of 326,752. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.00. The company’s fifty day moving average is $33.73 and its 200-day moving average is $30.96. The company has a market capitalization of $19.08 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.74 and a beta of 0.28. Banco De Chile has a 1 year low of $22.06 and a 1 year high of $38.00.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $0.60 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.02). Banco De Chile had a net margin of 32.87% and a return on equity of 23.25%. The business had revenue of $764.93 million during the quarter, compared to analysts’ expectations of $831.97 million. On average, research analysts expect that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

A number of institutional investors and hedge funds have recently made changes to their positions in BCH. Brooklyn Investment Group increased its holdings in shares of Banco De Chile by 823.3% in the 1st quarter. Brooklyn Investment Group now owns 1,385 shares of the bank’s stock worth $37,000 after buying an additional 1,235 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Banco De Chile by 161.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after acquiring an additional 929 shares during the last quarter. Hantz Financial Services Inc. raised its position in Banco De Chile by 276.2% during the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,845 shares during the period. Tower Research Capital LLC TRC raised its position in Banco De Chile by 2,425.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,401 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Banco De Chile by 1,355.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank’s stock valued at $98,000 after purchasing an additional 3,009 shares during the last quarter. 1.24% of the stock is owned by hedge funds and other institutional investors.

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.