Banco De Chile (NYSE:BCH) Hits New 1-Year High – Should You Buy?

Banco De Chile (NYSE:BCH) reached a new 52-week high during trading on Tuesday . The stock traded as high as $44.28 and last traded at $44.16, with a volume of 491199 shares changing hands. The stock had previously closed at $43.20.

Analyst Upgrades and Downgrades

BCH has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Zacks Research downgraded Banco De Chile from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. The Goldman Sachs Group lowered Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Banco De Chile currently has an average rating of “Reduce” and an average price target of $36.00.

Banco De Chile Price Performance

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 stock has a market cap of $22.86 billion, a PE ratio of 16.28, a P/E/G ratio of 1.27 and a beta of 0.20. The company’s 50 day moving average is $39.08 and its 200-day moving average is $33.72.

Banco De Chile (NYSE:BCH) last posted its quarterly earnings data on Thursday, October 30th. The bank reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $764.93 million during the quarter, compared to analysts’ expectations of $831.97 million. As a group, sell-side analysts predict that Banco De Chile will post 2.31 earnings per share for the current year.

Hedge Funds Weigh In On Banco De Chile

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Banco De Chile by 6.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,396 shares of the bank’s stock worth $167,000 after buying an additional 255 shares in the last quarter. Blue Trust Inc. boosted its stake in Banco De Chile by 19.2% during the 4th quarter. Blue Trust Inc. now owns 10,700 shares of the bank’s stock valued at $407,000 after acquiring an additional 1,721 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Banco De Chile by 158.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 41,874 shares of the bank’s stock worth $1,591,000 after acquiring an additional 25,643 shares in the last quarter. Tuttle Capital Management LLC bought a new stake in shares of Banco De Chile in the 4th quarter worth about $235,000. Finally, Verition Fund Management LLC increased its position in shares of Banco De Chile by 128.7% in the 3rd quarter. Verition Fund Management LLC now owns 28,968 shares of the bank’s stock worth $878,000 after purchasing an additional 16,303 shares during the last quarter. 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.