Banco de Chile (NYSE:BCH) Lifted to “Outperform” at Scotiabank

Banco de Chile (NYSE:BCHGet Rating) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday, The Fly reports.

A number of other analysts have also issued reports on BCH. Credit Suisse Group upgraded shares of Banco de Chile from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $25.00 in a research report on Wednesday, March 2nd. JPMorgan Chase & Co. downgraded Banco de Chile from an “overweight” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research report on Thursday, February 17th. StockNews.com began coverage on Banco de Chile in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research raised shares of Banco de Chile from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $23.67.

Shares of BCH opened at $21.23 on Wednesday. Banco de Chile has a 1-year low of $15.60 and a 1-year high of $24.88. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.38 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $21.18 and a 200-day simple moving average of $19.14. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.97 and a beta of 0.29.

Banco de Chile (NYSE:BCHGet Rating) last released its quarterly earnings results on Sunday, January 30th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.17. Banco de Chile had a return on equity of 15.65% and a net margin of 24.90%. On average, equities analysts expect that Banco de Chile will post 1.89 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley grew its position in Banco de Chile by 823.5% in the second quarter. Morgan Stanley now owns 15,376 shares of the bank’s stock valued at $304,000 after acquiring an additional 13,711 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Banco de Chile by 3.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 24,172 shares of the bank’s stock worth $447,000 after buying an additional 793 shares in the last quarter. Signaturefd LLC boosted its position in Banco de Chile by 51.7% in the 3rd quarter. Signaturefd LLC now owns 2,498 shares of the bank’s stock valued at $46,000 after buying an additional 851 shares during the last quarter. Deutsche Bank AG boosted its position in Banco de Chile by 2.2% in the 3rd quarter. Deutsche Bank AG now owns 39,672 shares of the bank’s stock valued at $734,000 after buying an additional 840 shares during the last quarter. Finally, Texas Yale Capital Corp. grew its stake in shares of Banco de Chile by 68.9% during the third quarter. Texas Yale Capital Corp. now owns 22,054 shares of the bank’s stock valued at $408,000 after acquiring an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 0.86% of the company’s stock.

Banco de Chile Company Profile (Get Rating)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through Retail, Wholesale, and Treasury segments. The company offers deposit products, such as checking accounts, current accounts, demand deposits and accounts, saving accounts, and time deposits; commercial, mortgage, consumer, working capital, syndicated, and installment loans; and credit cards.

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