Banco de Chile (NYSE:BCH) Reaches New 1-Year High at $25.66

Shares of Banco de Chile (NYSE:BCH) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.66 and last traded at $25.34, with a volume of 10457 shares. The stock had previously closed at $25.54.

Analysts Set New Price Targets

Separately, StockNews.com raised Banco de Chile from a “sell” rating to a “hold” rating in a report on Friday, July 19th.

Banco de Chile Stock Performance

The company has a current ratio of 1.47, a quick ratio of 1.48 and a debt-to-equity ratio of 2.29. The stock’s 50 day moving average price is $23.58 and its two-hundred day moving average price is $23.17. The firm has a market capitalization of $12.75 billion, a PE ratio of 8.50 and a beta of 0.40.

Banco de Chile (NYSE:BCH) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $810.22 million during the quarter, compared to analysts’ expectations of $767.15 million. Banco de Chile had a return on equity of 22.72% and a net margin of 28.99%. On average, equities analysts expect that Banco de Chile will post 2.3 earnings per share for the current year.

Hedge Funds Weigh In On Banco de Chile

A number of institutional investors have recently modified their holdings of BCH. Baillie Gifford & Co. purchased a new stake in Banco de Chile in the 2nd quarter worth approximately $60,462,000. Wellington Management Group LLP increased its stake in Banco de Chile by 143.6% in the fourth quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock valued at $6,479,000 after purchasing an additional 165,467 shares during the last quarter. Bessemer Group Inc. purchased a new position in Banco de Chile during the first quarter worth about $6,189,000. AQR Capital Management LLC boosted its stake in Banco de Chile by 61.5% in the 2nd quarter. AQR Capital Management LLC now owns 243,009 shares of the bank’s stock worth $5,499,000 after buying an additional 92,532 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Banco de Chile by 24.3% in the 2nd quarter. Marshall Wace LLP now owns 214,398 shares of the bank’s stock valued at $4,852,000 after buying an additional 41,894 shares during the period. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco de Chile Company Profile

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.