Banco De Chile (NYSE:BCH) Share Price Passes Above 200-Day Moving Average – What’s Next?

Banco De Chile (NYSE:BCH)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $37.11 and traded as high as $38.69. Banco De Chile shares last traded at $37.3240, with a volume of 587,811 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BCH. JPMorgan Chase & Co. increased their price objective on shares of Banco De Chile from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Zacks Research upgraded shares of Banco De Chile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. UBS Group set a $48.00 price objective on shares of Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, February 6th. Finally, The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective for the company. in a research report on Tuesday, January 13th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $40.00.

Banco De Chile Price Performance

The company has a 50-day moving average of $41.81 and a two-hundred day moving average of $37.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.59 and a quick ratio of 1.53. The stock has a market capitalization of $18.85 billion, a PE ratio of 13.38 and a beta of 0.20.

Banco De Chile (NYSE:BCH) last posted its quarterly 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 business had revenue of $826.07 million during the quarter, compared to analysts’ expectations of $878.92 million. Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. Sell-side analysts predict that Banco De Chile will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of Banco De Chile by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after buying an additional 75,924 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Banco De Chile by 27.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,578 shares of the bank’s stock worth $291,000 after buying an additional 2,055 shares during the period. Creative Planning boosted its holdings in Banco De Chile by 24.8% in the second quarter. Creative Planning now owns 16,517 shares of the bank’s stock valued at $502,000 after acquiring an additional 3,277 shares during the last quarter. Brandywine Global Investment Management LLC boosted its holdings in Banco De Chile by 16.8% in the second quarter. Brandywine Global Investment Management LLC now owns 30,131 shares of the bank’s stock valued at $917,000 after acquiring an additional 4,340 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Banco De Chile during the second quarter valued at about $1,266,000. Institutional investors and hedge funds 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.