Banco De Chile (NYSE:BCH) Upgraded to “Hold” at Zacks Research

Banco De Chile (NYSE:BCH) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. increased their price objective on Banco De Chile from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. The Goldman Sachs Group lowered Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 target price for the company. in a research note on Tuesday, January 13th. UBS Group set a $48.00 price target on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $40.00.

Banco De Chile Stock Down 6.8%

NYSE BCH opened at $37.33 on Wednesday. Banco De Chile has a 52-week low of $23.66 and a 52-week high of $46.77. The company has a fifty day moving average of $41.99 and a 200-day moving average of $36.71. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 2.09.

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

Hedge Funds Weigh In On Banco De Chile

A number of large investors have recently bought and sold shares of BCH. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $167,000 after purchasing an additional 255 shares during the period. Triasima Portfolio Management inc. increased its stake in shares of Banco De Chile by 0.6% in the fourth quarter. Triasima Portfolio Management inc. now owns 77,835 shares of the bank’s stock worth $2,958,000 after buying an additional 455 shares during the period. Profund Advisors LLC increased its stake in shares of Banco De Chile by 5.5% in the third quarter. Profund Advisors LLC now owns 10,443 shares of the bank’s stock worth $316,000 after buying an additional 543 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Banco De Chile by 3.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 18,508 shares of the bank’s stock valued at $703,000 after buying an additional 651 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Banco De Chile by 33,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after buying an additional 678 shares during the period. 1.24% of the stock is owned by hedge funds and other institutional investors.

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.