$716.59 Million in Sales Expected for Banco de Chile (NYSE:BCH) This Quarter

Wall Street analysts predict that Banco de Chile (NYSE:BCHGet Rating) will report $716.59 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Banco de Chile’s earnings, with estimates ranging from $710.36 million to $722.83 million. Banco de Chile posted sales of $654.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Banco de Chile will report full-year sales of $2.98 billion for the current year, with estimates ranging from $2.87 billion to $3.09 billion. For the next financial year, analysts forecast that the company will post sales of $3.12 billion, with estimates ranging from $3.08 billion to $3.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Banco de Chile.

BCH has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut shares of 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. Scotiabank upgraded shares of Banco de Chile from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, April 13th. StockNews.com began coverage on shares of Banco de Chile in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group upgraded shares of Banco de Chile from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $25.00 in a research report on Wednesday, March 2nd. 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 note on Tuesday, April 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.67.

NYSE BCH opened at $20.11 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.39 and a debt-to-equity ratio of 3.12. Banco de Chile has a 1 year low of $15.60 and a 1 year high of $23.77. The company has a fifty day simple moving average of $21.22 and a 200 day simple moving average of $19.58. The company has a market cap of $10.16 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.93 and a beta of 0.31.

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Banco de Chile by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 590,351 shares of the bank’s stock valued at $9,281,000 after buying an additional 22,056 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Banco de Chile in the 4th quarter worth $7,571,000. Millennium Management LLC lifted its holdings in shares of Banco de Chile by 21.8% in the 3rd quarter. Millennium Management LLC now owns 109,020 shares of the bank’s stock worth $2,016,000 after purchasing an additional 19,507 shares in the last quarter. State Street Corp raised its position in Banco de Chile by 0.9% in the 4th quarter. State Street Corp now owns 84,611 shares of the bank’s stock valued at $1,329,000 after buying an additional 761 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in Banco de Chile by 49.9% in the 4th quarter. Citadel Advisors LLC now owns 80,239 shares of the bank’s stock valued at $1,261,000 after buying an additional 26,716 shares during the last quarter. 0.89% of the stock is owned by institutional investors.

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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