Advisors Asset Management Inc. Sells 7,706 Shares of Banco De Chile $BCH

Advisors Asset Management Inc. cut its stake in Banco De Chile (NYSE:BCH) by 47.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,435 shares of the bank’s stock after selling 7,706 shares during the quarter. Advisors Asset Management Inc.’s holdings in Banco De Chile were worth $223,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC bought a new position in Banco De Chile in the 4th quarter worth $11,494,000. Itau Unibanco Holding S.A. increased its stake in shares of Banco De Chile by 104.6% in the 1st quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank’s stock worth $11,054,000 after acquiring an additional 223,565 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Banco De Chile by 3.2% in the 1st quarter. Bessemer Group Inc. now owns 401,760 shares of the bank’s stock worth $10,642,000 after acquiring an additional 12,599 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Banco De Chile in the 4th quarter worth about $4,033,000. Finally, Northern Trust Corp increased its stake in shares of Banco De Chile by 57.1% in the 4th quarter. Northern Trust Corp now owns 148,843 shares of the bank’s stock worth $3,376,000 after acquiring an additional 54,109 shares in the last quarter. 1.24% of the stock is currently owned by institutional investors.

Banco De Chile Stock Performance

Shares of NYSE BCH opened at $30.98 on Friday. The firm has a 50 day moving average of $28.79 and a 200 day moving average of $28.76. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 2.23 and a beta of 0.30. Banco De Chile has a 12-month low of $22.06 and a 12-month high of $31.84.

Banco De Chile (NYSE:BCH) last announced its earnings results on Thursday, July 31st. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $801.11 million during the quarter, compared to analyst estimates of $820.11 million. Banco De Chile had a net margin of 32.62% and a return on equity of 23.00%. On average, research analysts anticipate that Banco De Chile will post 2.31 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Banco De Chile has an average rating of “Hold” and a consensus price target of $23.00.

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.