Banco De Chile (NYSE:BCH) Sets New 52-Week High – Still a Buy?

Banco De Chile (NYSE:BCH)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $41.30 and last traded at $41.09, with a volume of 12235 shares. The stock had previously closed at $40.40.

Analyst Upgrades and Downgrades

BCH has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. The Goldman Sachs Group boosted their price objective on shares of Banco De Chile from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Zacks Research lowered shares of Banco De Chile from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Banco De Chile from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Four 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 price target of $34.00.

Banco De Chile Stock Up 1.2%

The firm has a market capitalization of $20.41 billion, a P/E ratio of 14.62, a PEG ratio of 2.70 and a beta of 0.20. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.53 and a current ratio of 1.53. The firm’s 50-day moving average is $37.62 and its 200 day moving average is $32.63.

Banco De Chile (NYSE:BCH) last released its earnings results on Thursday, October 30th. The bank reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%.The firm had revenue of $764.93 million for the quarter, compared to the consensus estimate of $831.97 million. As a group, equities research analysts predict that Banco De Chile will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Banco De Chile

Hedge funds and other institutional investors have recently bought and sold shares of the company. TT International Asset Management LTD bought a new stake in Banco De Chile in the 3rd quarter valued at approximately $26,962,000. Qube Research & Technologies Ltd raised its holdings in shares of Banco De Chile by 199.1% in the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock valued at $10,680,000 after purchasing an additional 234,619 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Banco De Chile by 177.7% in the third quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock worth $9,032,000 after purchasing an additional 190,741 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Banco De Chile in the second quarter worth $3,454,000. Finally, Cubist Systematic Strategies LLC grew its position in Banco De Chile by 128.4% in the second quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock valued at $6,021,000 after purchasing an additional 111,253 shares in the last quarter. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco De Chile Company Profile

Banco de Chile (NYSE: BCH) is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country’s oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank’s core businesses include retail banking, commercial and corporate banking, and investment banking.