Banco de Chile (NYSE:BCH) Sees Significant Increase in Short Interest

Banco de Chile (NYSE:BCHGet Rating) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 704,500 shares, a growth of 35.1% from the March 15th total of 521,500 shares. Based on an average daily volume of 109,100 shares, the days-to-cover ratio is presently 6.5 days.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Banco de Chile by 0.9% during the fourth quarter. State Street Corp now owns 84,611 shares of the bank’s stock worth $1,329,000 after purchasing an additional 761 shares in the last quarter. Deutsche Bank AG lifted its stake in Banco de Chile by 2.2% during the third quarter. Deutsche Bank AG now owns 39,672 shares of the bank’s stock worth $734,000 after purchasing an additional 840 shares in the last quarter. Signaturefd LLC raised its stake in shares of Banco de Chile by 51.7% in the third quarter. Signaturefd LLC now owns 2,498 shares of the bank’s stock valued at $46,000 after acquiring an additional 851 shares in the last quarter. Morgan Stanley raised its stake in shares of Banco de Chile by 10.0% in the third quarter. Morgan Stanley now owns 16,915 shares of the bank’s stock valued at $313,000 after acquiring an additional 1,539 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Banco de Chile by 16.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 13,925 shares of the bank’s stock valued at $212,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 0.86% of the company’s stock.

BCH opened at $21.40 on Monday. Banco de Chile has a one year low of $15.60 and a one year high of $24.88. The stock has a market capitalization of $10.81 billion, a PE ratio of 12.74, a P/E/G ratio of 1.00 and a beta of 0.29. The business’s 50 day moving average price is $21.30 and its 200 day moving average price is $19.20. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.39 and a current ratio of 1.38.

Banco de Chile (NYSE:BCHGet Rating) last released its quarterly earnings data on Sunday, January 30th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.17. Banco de Chile had a return on equity of 15.65% and a net margin of 24.90%. As a group, equities research analysts forecast that Banco de Chile will post 1.98 earnings per share for the current fiscal year.

The company also recently declared an annual dividend, which was paid on Thursday, April 7th. Shareholders of record on Tuesday, March 29th were paid a dividend of $1.3307 per share. This represents a yield of 4.4%. This is a boost from Banco de Chile’s previous annual dividend of $0.38. The ex-dividend date was Thursday, March 24th. Banco de Chile’s dividend payout ratio is 61.31%.

BCH has been the subject of several research reports. Scotiabank upgraded Banco de Chile from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, April 13th. JPMorgan Chase & Co. lowered Banco de Chile from an “overweight” rating to a “neutral” rating and set a $23.00 price objective for the company. in a research note on Thursday, February 17th. Credit Suisse Group upgraded Banco de Chile from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $25.00 in a research note on Wednesday, March 2nd. StockNews.com initiated coverage on Banco de Chile in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research upgraded Banco de Chile from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $23.67.

About Banco de Chile (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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