Zacks Investment Research Lowers Banco De Chile (BCH) to Hold
Banco De Chile (NYSE:BCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “
Several other equities research analysts have also issued reports on BCH. BidaskClub raised Banco De Chile from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Santander raised Banco De Chile from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. J P Morgan Chase & Co lowered Banco De Chile from an “overweight” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Wednesday, September 6th. ValuEngine lowered Banco De Chile from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Finally, Scotiabank lowered Banco De Chile from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $88.67.
Banco De Chile (NYSE:BCH) traded up $0.33 during trading hours on Thursday, reaching $87.93. The company had a trading volume of 38,600 shares, compared to its average volume of 43,292. The company has a market capitalization of $14,637.96, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Banco De Chile has a 12 month low of $67.27 and a 12 month high of $95.80. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 2.50.
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A number of hedge funds have recently modified their holdings of BCH. Morgan Stanley lifted its stake in Banco De Chile by 59.3% during the first quarter. Morgan Stanley now owns 35,186 shares of the bank’s stock worth $2,539,000 after purchasing an additional 13,099 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Banco De Chile during the third quarter worth about $976,000. Aperio Group LLC lifted its stake in Banco De Chile by 8.3% during the third quarter. Aperio Group LLC now owns 129,889 shares of the bank’s stock worth $11,842,000 after purchasing an additional 9,963 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Banco De Chile by 20.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 38,747 shares of the bank’s stock worth $3,020,000 after purchasing an additional 6,448 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Banco De Chile by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 200,031 shares of the bank’s stock worth $18,235,000 after purchasing an additional 5,432 shares during the last quarter. 1.56% of the stock is owned by hedge funds and other institutional investors.
About Banco De Chile
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