Allianz Asset Management GmbH Invests $757,000 in Banco De Chile $BCH

Allianz Asset Management GmbH purchased a new position in shares of Banco De Chile (NYSE:BCH) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 24,989 shares of the bank’s stock, valued at approximately $757,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BCH. EverSource Wealth Advisors LLC increased its position in Banco De Chile by 161.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after buying an additional 929 shares during the period. Tower Research Capital LLC TRC increased its position in Banco De Chile by 2,425.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock worth $76,000 after acquiring an additional 2,401 shares during the period. Hantz Financial Services Inc. raised its stake 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 purchasing an additional 1,845 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Banco De Chile by 62.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,245 shares of the bank’s stock worth $159,000 after purchasing an additional 2,014 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new stake in Banco De Chile in the 2nd quarter valued at about $234,000. 1.24% of the stock is owned by institutional investors and hedge funds.

Banco De Chile Trading Down 0.7%

NYSE BCH opened at $43.42 on Friday. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.24 and a beta of 0.20. Banco De Chile has a twelve month low of $23.66 and a twelve month high of $46.77. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 2.09. The business’s fifty day moving average is $40.86 and its 200 day moving average is $35.07.

Banco De Chile (NYSE:BCH) last posted its earnings results on Tuesday, February 3rd. The bank reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). The firm had revenue of $826.07 million during the quarter, compared to the consensus estimate of $878.92 million. Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. As a group, sell-side analysts expect that Banco De Chile will post 2.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BCH has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. Zacks Research lowered Banco De Chile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. UBS Group set a $48.00 price objective on Banco De Chile and gave the company a “neutral” rating in a report on Friday, February 6th. The Goldman Sachs Group lowered 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, January 13th. Finally, Wall Street Zen cut Banco De Chile from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $40.00.

Banco De Chile 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.