Banco De Chile (NYSE:BCH) Cut to Hold at Zacks Research

Zacks Research lowered shares of Banco De Chile (NYSE:BCH) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

BCH has been the topic of several other reports. Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their target price on Banco De Chile from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Banco De Chile from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.00.

Banco De Chile Trading Down 1.2%

NYSE BCH opened at $36.85 on Monday. The company has a market cap of $18.61 billion, a PE ratio of 13.16, a PEG ratio of 2.73 and a beta of 0.23. Banco De Chile has a 12 month low of $22.06 and a 12 month high of $39.19. The stock has a 50 day moving average of $35.70 and a 200-day moving average of $31.59. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.00.

Banco De Chile (NYSE:BCH) last issued its earnings results on Thursday, October 30th. The bank reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Banco De Chile had a net margin of 32.87% and a return on equity of 23.25%. The firm had revenue of $764.93 million during the quarter, compared to the consensus estimate of $831.97 million. On average, equities research analysts anticipate that Banco De Chile will post 2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TT International Asset Management LTD acquired a new position in Banco De Chile during the third quarter worth about $26,962,000. Bessemer Group Inc. boosted its position in Banco De Chile by 16.4% in the second quarter. Bessemer Group Inc. now owns 467,468 shares of the bank’s stock valued at $14,220,000 after buying an additional 65,708 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of 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. Qube Research & Technologies Ltd lifted its stake in shares of Banco De Chile by 199.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock valued at $10,680,000 after acquiring an additional 234,619 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Banco De Chile by 177.7% during the 3rd quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock valued at $9,032,000 after acquiring an additional 190,741 shares in the last quarter. Institutional investors 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.