Banco De Chile (NYSE:BCH) Receives Average Rating of “Reduce” from Brokerages

Shares of Banco De Chile (NYSE:BCH) have received a consensus recommendation of “Reduce” from the five research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $37.00.

A number of equities analysts recently issued reports on BCH shares. UBS Group set a $39.00 target price on Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday.

Hedge Funds Weigh In On Banco De Chile

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in Banco De Chile by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after buying an additional 75,924 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Banco De Chile in the second quarter worth about $1,266,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Banco De Chile by 161.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after acquiring an additional 929 shares during the period. First Trust Advisors LP acquired a new position in shares of Banco De Chile during the second quarter worth approximately $238,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Banco De Chile during the second quarter valued at $323,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Banco De Chile Trading Up 1.3%

NYSE BCH opened at $42.16 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.49 and a debt-to-equity ratio of 1.94. The business has a fifty day simple moving average of $39.79 and a 200 day simple moving average of $39.79. Banco De Chile has a 12 month low of $27.69 and a 12 month high of $46.77. The firm has a market capitalization of $21.30 billion, a P/E ratio of 15.97 and a beta of 0.24.

Banco De Chile (NYSE:BCH) last released its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share for the quarter. The company had revenue of $999.95 million for the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. On average, analysts predict that Banco De Chile will post 2.83 EPS for the current fiscal year.

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.