Banco de Chile (NYSE:BCH) Rating Lowered to Market Perform at Itaú Unibanco

Banco de Chile (NYSE:BCHGet Rating) was downgraded by equities research analysts at Itaú Unibanco from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, Stock Target Advisor reports. They presently have a $22.00 price objective on the bank’s stock. Itaú Unibanco’s price target points to a potential upside of 6.43% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Grupo Santander upgraded shares of Banco de Chile from a “neutral” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Thursday, May 19th. Banco Santander upgraded shares of Banco de Chile to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, May 20th. Credit Suisse Group upgraded shares of Banco de Chile from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $25.00 in a report on Wednesday, March 2nd. Scotiabank upgraded shares of Banco de Chile from a “sector perform” rating to an “outperform” rating in a report on Wednesday, April 13th. Finally, Itau BBA Securities cut shares of Banco de Chile from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a research note on Tuesday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Banco de Chile has a consensus rating of “Hold” and an average price target of $23.57.

Shares of Banco de Chile stock traded up $0.08 during midday trading on Tuesday, hitting $20.67. The company had a trading volume of 6,731 shares, compared to its average volume of 162,115. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 0.89 and a beta of 0.31. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 3.12. The company has a fifty day simple moving average of $20.59 and a 200 day simple moving average of $19.84. Banco de Chile has a 12-month low of $15.60 and a 12-month high of $22.74.

Banco de Chile (NYSE:BCHGet Rating) last announced its quarterly earnings data on Friday, April 29th. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.60 by $0.09. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. The firm had revenue of $560.31 million during the quarter, compared to analyst estimates of $742.05 million. As a group, analysts expect that Banco de Chile will post 2.31 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA purchased a new position in Banco de Chile in the 4th quarter valued at $69,000. Envestnet Asset Management Inc. purchased a new position in Banco de Chile in the 4th quarter valued at $159,000. Profund Advisors LLC purchased a new position in shares of Banco de Chile during the 4th quarter worth $174,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Banco de Chile by 16.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 13,925 shares of the bank’s stock worth $212,000 after acquiring an additional 2,000 shares during the period. Finally, Whittier Trust Co. purchased a new position in shares of Banco de Chile during the 1st quarter worth $230,000. Institutional investors own 0.89% of the company’s stock.

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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