The Goldman Sachs Group Boosts Banco De Chile (NYSE:BCH) Price Target to $35.00

Banco De Chile (NYSE:BCH) had its price target lifted by analysts at The Goldman Sachs Group from $31.00 to $35.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 6.34% from the stock’s previous close.

Several other brokerages also recently commented on BCH. Wall Street Zen upgraded Banco De Chile from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Zacks Research upgraded shares of Banco De Chile from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Banco De Chile from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Banco De Chile currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Banco De Chile Trading Up 1.9%

Shares of BCH stock opened at $37.37 on Tuesday. The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.69 and a beta of 0.28. The company’s fifty day simple moving average is $32.07 and its two-hundred day simple moving average is $30.40. Banco De Chile has a 1 year low of $22.06 and a 1 year high of $37.70. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.53 and a quick ratio of 1.53.

Banco De Chile (NYSE:BCH) last posted its quarterly earnings results on Thursday, October 30th. The bank reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%.The company had revenue of $675.26 million during the quarter, compared to the consensus estimate of $831.97 million. As a group, analysts anticipate that Banco De Chile will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On Banco De Chile

Hedge funds have recently bought and sold shares of the stock. TT International Asset Management LTD bought a new position in shares of Banco De Chile in the 3rd quarter worth $26,962,000. Itau Unibanco Holding S.A. grew its position in Banco De Chile by 104.6% in the first 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. Robeco Institutional Asset Management B.V. bought a new position in Banco De Chile in the second quarter valued at $3,454,000. Cubist Systematic Strategies LLC increased its stake in Banco De Chile by 128.4% in the second quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock valued at $6,021,000 after acquiring an additional 111,253 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 valued at $5,747,000 after purchasing an additional 75,924 shares in the last quarter. 1.24% of the stock is currently owned by institutional investors.

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.