Banco De Chile (NYSE:BCH) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Banco De Chile (NYSE:BCH) from a sell rating to a hold rating in a research report report published on Saturday.

BCH has been the subject of a number of other reports. UBS Group set a $39.00 target price on Banco De Chile and gave the company a “neutral” rating in a report on Friday, May 22nd. Weiss Ratings upgraded Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. increased their price target on Banco De Chile from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $40.00.

Banco De Chile Price Performance

Banco De Chile stock opened at $41.29 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.48 and a debt-to-equity ratio of 1.94. Banco De Chile has a 52-week low of $28.26 and a 52-week high of $46.77. The firm has a market cap of $20.85 billion, a PE ratio of 15.64 and a beta of 0.24. The company’s 50 day moving average is $39.86 and its two-hundred day moving average is $39.80.

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

Institutional Investors Weigh In On Banco De Chile

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Banco De Chile by 33,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock worth $26,000 after purchasing an additional 678 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Banco De Chile by 161.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after buying an additional 929 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Banco De Chile in the first quarter valued at $53,000. Smartleaf Asset Management LLC lifted its holdings in Banco De Chile by 286.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock worth $66,000 after buying an additional 1,276 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Banco De Chile by 2,425.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock worth $76,000 after buying an additional 2,401 shares during the last quarter. 1.24% of the stock is currently owned by institutional investors and hedge funds.

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.