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

Banco De Chile (NYSE:BCH) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $33.00 to $36.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 10.31% from the company’s current price.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Banco De Chile from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Wall Street Zen cut Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group cut shares of Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 target price on the stock. in a report on Tuesday. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $36.00.

Banco De Chile Stock Up 0.9%

Shares of NYSE BCH opened at $40.14 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.53 and a current ratio of 1.53. Banco De Chile has a 12 month low of $23.25 and a 12 month high of $41.37. The firm has a fifty day simple moving average of $38.10 and a two-hundred day simple moving average of $32.98.

Banco De Chile (NYSE:BCH) last announced its earnings results on Thursday, October 30th. The bank reported $0.60 earnings per share 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 company had revenue of $764.93 million for the quarter, compared to the consensus estimate of $831.97 million. Equities research analysts expect that Banco De Chile will post 2.31 EPS for the current year.

Hedge Funds Weigh In On Banco De Chile

Institutional investors and hedge funds have recently modified their holdings of the stock. TT International Asset Management LTD purchased a new stake in Banco De Chile during the 3rd quarter valued at $26,962,000. SBI Securities Co. Ltd. lifted its holdings in shares of Banco De Chile by 8,516.3% during the second quarter. SBI Securities Co. Ltd. now owns 33,345 shares of the bank’s stock valued at $1,014,000 after purchasing an additional 32,958 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Banco De Chile by 185.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 26,095 shares of the bank’s stock valued at $794,000 after purchasing an additional 16,948 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Banco De Chile during the third quarter valued at $492,000. Finally, Hantz Financial Services Inc. increased its holdings in Banco De Chile by 276.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock worth $76,000 after buying an additional 1,845 shares in the last quarter. 1.24% of the stock is currently owned by institutional investors.

Banco De Chile Company Profile

Banco de Chile (NYSE: BCH) is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country’s oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank’s core businesses include retail banking, commercial and corporate banking, and investment banking.