Banco De Chile (NYSE:BCH) Lowered to “Hold” Rating by Zacks Research

by · The Cerbat Gem

Banco De Chile (NYSE:BCH – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

BCH has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of Banco De Chile from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Wall Street Zen cut 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 raised their price target on shares of Banco De Chile from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $34.00.

View Our Latest Stock Report on BCH

Banco De Chile Price Performance

BCH stock opened at $37.28 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.53 and a quick ratio of 1.53. The business has a 50 day simple moving average of $35.59 and a 200-day simple moving average of $31.55. The firm has a market capitalization of $18.83 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.81 and a beta of 0.23. Banco De Chile has a 1 year low of $22.06 and a 1 year high of $39.19.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. TT International Asset Management LTD purchased a new stake in shares of Banco De Chile in the 3rd quarter valued at $26,962,000. Bessemer Group Inc. grew its position in Banco De Chile by 16.4% in the 2nd quarter. Bessemer Group Inc. now owns 467,468 shares of the bank’s stock valued at $14,220,000 after acquiring an additional 65,708 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Banco De Chile by 104.6% during the first quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank’s stock worth $11,054,000 after purchasing an additional 223,565 shares during the period. Qube Research & Technologies Ltd increased its stake in Banco De Chile by 199.1% during the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after purchasing an additional 234,619 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Banco De Chile by 177.7% during 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. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

About Banco De Chile

(Get Free Report)

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.

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