Banco De Chile (NYSE:BCH) Hits New 1-Year High – Here’s Why

Banco De Chile (NYSE:BCH) hit a new 52-week high on Thursday . The company traded as high as $38.73 and last traded at $38.5950, with a volume of 90042 shares traded. The stock had previously closed at $37.88.

Analyst Ratings Changes

BCH has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Banco De Chile from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Zacks Research raised shares of Banco De Chile from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Banco De Chile from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Banco De Chile currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Banco De Chile Stock Performance

The stock has a market capitalization of $19.38 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 2.76 and a beta of 0.23. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.00. The company has a 50-day moving average price of $34.95 and a two-hundred day moving average price of $31.34.

Banco De Chile (NYSE:BCH) last released its quarterly earnings data on Thursday, October 30th. The bank reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.02). Banco De Chile had a net margin of 32.87% and a return on equity of 23.25%. The company had revenue of $764.93 million during the quarter, compared to the consensus estimate of $831.97 million. On average, equities analysts forecast that Banco De Chile will post 2.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCH. Brooklyn Investment Group increased its holdings in Banco De Chile by 823.3% during the first quarter. Brooklyn Investment Group now owns 1,385 shares of the bank’s stock worth $37,000 after buying an additional 1,235 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Banco De Chile by 161.6% during the 2nd 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. Tower Research Capital LLC TRC grew its position in shares of 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 valued at $76,000 after acquiring an additional 2,401 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Banco De Chile by 276.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock worth $76,000 after purchasing an additional 1,845 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Banco De Chile by 1,355.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank’s stock worth $98,000 after purchasing an additional 3,009 shares during the period. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

About Banco De Chile

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.