TT International Asset Management LTD Trims Holdings in Banco De Chile $BCH

TT International Asset Management LTD decreased its stake in shares of Banco De Chile (NYSE:BCH) by 52.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 424,899 shares of the bank’s stock after selling 464,952 shares during the quarter. Banco De Chile comprises 3.4% of TT International Asset Management LTD’s holdings, making the stock its 13th largest position. TT International Asset Management LTD’s holdings in Banco De Chile were worth $16,093,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in BCH. Goldman Sachs Group Inc. lifted its position in Banco De Chile by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock worth $5,747,000 after buying an additional 75,924 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Banco De Chile during the second quarter worth approximately $1,266,000. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 929 shares in the last quarter. First Trust Advisors LP purchased a new position in Banco De Chile during the second quarter worth approximately $238,000. Finally, Flow Traders U.S. LLC purchased a new position in Banco De Chile during the second quarter worth approximately $323,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BCH shares. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. UBS Group set a $48.00 target price on Banco De Chile and gave the company a “neutral” rating in a research report on Friday, February 6th. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 target price on the stock. in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lifted their target price on Banco De Chile from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Finally, Zacks Research upgraded Banco De Chile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $40.00.

Banco De Chile Trading Down 0.2%

Shares of NYSE BCH opened at $38.51 on Friday. Banco De Chile has a twelve month low of $25.52 and a twelve month high of $46.77. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. The stock has a fifty day simple moving average of $40.36 and a 200-day simple moving average of $37.96. The stock has a market capitalization of $19.45 billion, a PE ratio of 13.80 and a beta of 0.22.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings data on Thursday, January 29th. The bank reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. The firm had revenue of $831.63 million during the quarter, compared to analyst estimates of $878.92 million. On average, equities analysts forecast that Banco De Chile will post 2.31 earnings per share for the current year.

Banco De Chile Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Monday, April 13th. Stockholders of record on Monday, March 30th will be paid a $2.1877 dividend. The ex-dividend date of this dividend is Monday, March 30th. Banco De Chile’s payout ratio is presently 59.14%.

About Banco De Chile

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.