Banco De Chile (NYSE:BCH) Receives $40.00 Consensus Target Price from Brokerages

Shares of Banco De Chile (NYSE:BCH) have been given a consensus rating of “Reduce” by the five analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $40.00.

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, January 21st. The Goldman Sachs Group cut Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a report on Tuesday, January 13th. UBS Group set a $48.00 price target on shares of Banco De Chile and gave the stock a “neutral” rating in a report on Friday, February 6th. Zacks Research downgraded Banco De Chile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen downgraded Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th.

Banco De Chile Trading Down 3.6%

NYSE:BCH opened at $37.50 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. The company has a fifty day moving average of $41.90 and a 200-day moving average of $36.35. Banco De Chile has a twelve month low of $23.66 and a twelve month high of $46.77.

Banco De Chile (NYSE:BCH) last posted its quarterly earnings results 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 return on equity of 23.94% and a net margin of 33.09%.The firm had revenue of $826.07 million for the quarter, compared to analyst estimates of $878.92 million. On average, analysts predict that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BCH. Caitong International Asset Management Co. Ltd boosted its holdings in Banco De Chile by 33,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock worth $26,000 after acquiring an additional 678 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 valued at $46,000 after purchasing an additional 929 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Banco De Chile by 286.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,276 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Banco De Chile by 2,425.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock worth $76,000 after buying an additional 2,401 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Banco De Chile by 276.2% in the second 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.

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.