Banco de Chile (NYSE:BCH) Shares Cross Above 200 Day Moving Average of $22.07

Banco de Chile (NYSE:BCH) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.07 and traded as high as $22.62. Banco de Chile shares last traded at $22.61, with a volume of 99,001 shares trading hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on shares of Banco de Chile from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.00.

Banco de Chile Stock Up 2.3 %

The firm’s 50 day simple moving average is $22.64 and its 200 day simple moving average is $22.07. The company has a quick ratio of 1.59, a current ratio of 1.56 and a debt-to-equity ratio of 2.81. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 7.54 and a beta of 0.40.

Banco de Chile (NYSE:BCH) last issued its quarterly earnings results on Monday, January 29th. The bank reported $0.87 EPS for the quarter, beating the consensus estimate of $0.72 by $0.15. Banco de Chile had a net margin of 28.62% and a return on equity of 25.45%. The business had revenue of $987.90 million during the quarter, compared to the consensus estimate of $872.49 million. Sell-side analysts anticipate that Banco de Chile will post 2.13 EPS for the current fiscal year.

Banco de Chile Dividend Announcement

The company also recently announced a Variable dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 22nd were given a dividend of $1.09 per share. This represents a yield of 4.8%. The ex-dividend date was Thursday, March 21st. Banco de Chile’s dividend payout ratio is 41.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in Banco de Chile by 163.9% in the fourth quarter. Parallel Advisors LLC now owns 1,581 shares of the bank’s stock valued at $36,000 after acquiring an additional 982 shares during the period. Tower Research Capital LLC TRC increased its stake in Banco de Chile by 335.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,918 shares of the bank’s stock valued at $44,000 after acquiring an additional 1,478 shares during the period. Blue Trust Inc. increased its stake in Banco de Chile by 737.6% in the fourth quarter. Blue Trust Inc. now owns 2,697 shares of the bank’s stock valued at $62,000 after acquiring an additional 2,375 shares during the period. Quadrant Capital Group LLC increased its stake in Banco de Chile by 68.1% in the fourth quarter. Quadrant Capital Group LLC now owns 7,710 shares of the bank’s stock valued at $178,000 after acquiring an additional 3,123 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Banco de Chile by 24.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,926 shares of the bank’s stock valued at $160,000 after acquiring an additional 1,573 shares during the period. Institutional investors own 1.24% of the company’s stock.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.