Banco De Chile (NYSE:BCH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Banco De Chile (NYSE:BCH) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $30.00 to $33.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 0.70% from the company’s current price.

BCH has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Banco De Chile from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.00.

Banco De Chile Stock Performance

NYSE BCH opened at $32.77 on Thursday. 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 $16.55 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 2.42 and a beta of 0.26. The firm’s 50 day simple moving average is $29.90 and its 200 day simple moving average is $29.40. Banco De Chile has a 1 year low of $22.06 and a 1 year high of $33.28.

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

Hedge Funds Weigh In On Banco De Chile

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Banco De Chile by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock worth $5,747,000 after buying an additional 75,924 shares during the last quarter. Itau Unibanco Holding S.A. raised its stake in Banco De Chile by 104.6% during the first quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank’s stock worth $11,054,000 after buying an additional 223,565 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Banco De Chile by 289.5% in the first quarter. Cubist Systematic Strategies LLC now owns 86,678 shares of the bank’s stock valued at $2,296,000 after purchasing an additional 64,425 shares in the last quarter. XTX Topco Ltd bought a new stake in Banco De Chile in the first quarter valued at $245,000. Finally, Advisors Preferred LLC bought a new stake in Banco De Chile in the first quarter valued at $819,000. 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.