Banco De Chile (NYSE:BCH) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Banco De Chile (NYSE:BCH)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.68 and traded as high as $41.14. Banco De Chile shares last traded at $40.3150, with a volume of 453,251 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BCH. UBS Group set a $48.00 price objective on shares of Banco De Chile and gave the stock a “neutral” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price objective on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Zacks Research lowered Banco De Chile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, 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 research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $40.00.

Banco De Chile Trading Down 6.8%

The business has a 50-day simple moving average of $42.00 and a two-hundred day simple moving average of $36.70. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.59 and a quick ratio of 1.53.

Banco De Chile (NYSE:BCH) last issued its earnings results on Tuesday, February 3rd. The bank reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). The firm had revenue of $826.07 million during the quarter, compared to analyst estimates of $878.92 million. Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. As a group, research analysts predict that Banco De Chile will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Institutional investors have recently bought and sold shares of the business. TT International Asset Management LTD bought a new stake in shares of Banco De Chile during the third quarter worth $26,962,000. UBS Group AG raised its holdings in shares of Banco De Chile by 110.0% in the fourth quarter. UBS Group AG now owns 494,082 shares of the bank’s stock valued at $18,775,000 after buying an additional 258,844 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Banco De Chile by 199.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after acquiring an additional 234,619 shares during the last quarter. Marshall Wace LLP grew its holdings in Banco De Chile by 177.7% during the 3rd quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock worth $9,032,000 after acquiring an additional 190,741 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in Banco De Chile by 29.5% in the 4th quarter. Itau Unibanco Holding S.A. now owns 835,782 shares of the bank’s stock valued at $31,755,000 after acquiring an additional 190,567 shares in the last quarter. Institutional investors own 1.24% of the company’s stock.

Banco De Chile Company Profile

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.