Brokerages Set Banco De Chile (NYSE:BCH) Target Price at $40.00

Shares of Banco De Chile (NYSE:BCH) have been assigned a consensus rating of “Reduce” from the five research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $40.00.

A number of research analysts have issued reports on the company. Zacks Research downgraded Banco De Chile from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Wall Street Zen cut shares of Banco De Chile from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. The Goldman Sachs Group downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective for the company. in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. raised their target price on Banco De Chile from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, January 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TT International Asset Management LTD purchased a new position in Banco De Chile in the 3rd quarter worth approximately $26,962,000. UBS Group AG boosted its stake in Banco De Chile by 110.0% during the fourth quarter. UBS Group AG now owns 494,082 shares of the bank’s stock worth $18,775,000 after buying an additional 258,844 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Banco De Chile by 199.1% during the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after buying an additional 234,619 shares during the last quarter. Marshall Wace LLP grew its holdings in Banco De Chile by 177.7% in the 3rd quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock valued at $9,032,000 after buying an additional 190,741 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Banco De Chile by 128.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock worth $6,021,000 after acquiring an additional 111,253 shares during the last quarter. 1.24% of the stock is owned by hedge funds and other institutional investors.

Banco De Chile Price Performance

NYSE BCH opened at $44.45 on Friday. Banco De Chile has a 1 year low of $23.66 and a 1 year high of $46.77. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.59. The company has a fifty day moving average of $40.19 and a 200 day moving average of $34.58.

Banco De Chile (NYSE:BCH) last released its quarterly earnings data on Tuesday, February 3rd. The bank reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. The company had revenue of $826.07 million for the quarter, compared to analysts’ expectations of $878.92 million. On average, research analysts anticipate that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

About Banco De Chile

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.