Banco De Chile (NYSE:BCH) Price Target Raised to $36.00

Banco De Chile (NYSE:BCH) had its price objective boosted by JPMorgan Chase & Co. from $33.00 to $36.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 8.71% from the stock’s current price.

Several other equities analysts also recently weighed in on BCH. The Goldman Sachs Group downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Banco De Chile from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Wall Street Zen downgraded Banco De Chile from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $36.00.

Banco De Chile Stock Performance

Shares of NYSE:BCH traded down $0.35 on Friday, hitting $39.43. 55,111 shares of the company were exchanged, compared to its average volume of 266,964. The firm has a market capitalization of $20.82 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 2.75 and a beta of 0.20. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.00. Banco De Chile has a 1-year low of $23.25 and a 1-year high of $41.37. The stock’s 50 day moving average price is $38.02 and its 200 day moving average price is $32.90.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The firm had revenue of $764.93 million for the quarter, compared to analyst estimates of $831.97 million. Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%. Sell-side analysts predict that Banco De Chile will post 2.31 EPS for the current year.

Institutional Trading of Banco De Chile

Several institutional investors have recently bought and sold shares of BCH. EverSource Wealth Advisors LLC lifted 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 buying an additional 929 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Banco De Chile by 276.2% during the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,845 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Banco De Chile by 2,425.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,401 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Banco De Chile by 1,355.4% during the second 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 in the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Banco De Chile during the third quarter worth about $145,000. 1.24% of the stock is 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.