Banco De Chile (NYSE:BCH) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Banco De Chile (NYSE:BCH) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.64 and traded as high as $30.16. Banco De Chile shares last traded at $29.54, with a volume of 295,199 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Banco De Chile from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd.

Banco De Chile Price Performance

The stock has a market capitalization of $14.92 billion, a PE ratio of 10.33, a P/E/G ratio of 6.34 and a beta of 0.26. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.09. The stock’s 50-day moving average is $29.87 and its 200 day moving average is $26.64.

Institutional Investors Weigh In On Banco De Chile

Hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans bought a new position in Banco De Chile during the fourth quarter worth about $836,000. Raymond James Financial Inc. acquired a new stake in shares of Banco De Chile in the 4th quarter valued at approximately $300,000. Truffle Hound Capital LLC bought a new position in Banco De Chile during the 4th quarter worth approximately $4,536,000. Arrowstreet Capital Limited Partnership grew its holdings in Banco De Chile by 1.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 530,363 shares of the bank’s stock valued at $12,029,000 after purchasing an additional 7,749 shares during the period. Finally, Marshall Wace LLP increased its stake in Banco De Chile by 36.2% in the fourth quarter. Marshall Wace LLP now owns 440,004 shares of the bank’s stock valued at $9,979,000 after purchasing an additional 117,045 shares in the last quarter. 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.