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

Banco De Chile (NYSE:BCH) has been assigned a consensus rating of “Reduce” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $40.00.

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Weiss Ratings restated a “hold (c)” rating on shares of Banco De Chile in a research note on Monday. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 target price on the stock. in a research note on Tuesday, January 13th. UBS Group set a $48.00 target price on Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th.

Banco De Chile Price Performance

BCH stock opened at $38.58 on Wednesday. The company has a market capitalization of $19.49 billion, a P/E ratio of 13.83 and a beta of 0.22. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.59. Banco De Chile has a 52-week low of $27.08 and a 52-week high of $46.77. The business has a 50-day simple moving average of $39.29 and a two-hundred day simple moving average of $38.55.

Banco De Chile (NYSE:BCH) last released its quarterly earnings results on Thursday, January 29th. The bank reported $0.58 earnings per share (EPS) 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 $831.63 million for the quarter, compared to analyst estimates of $878.92 million. Research analysts expect that Banco De Chile will post 2.79 EPS for the current fiscal year.

Banco De Chile Announces Dividend

The firm also recently announced a special dividend, which was paid on Monday, April 13th. Stockholders of record on Monday, March 30th were paid a $2.1877 dividend. The ex-dividend date was Monday, March 30th. Banco De Chile’s payout ratio is presently 59.14%.

Hedge Funds Weigh In On Banco De Chile

A number of hedge funds and other institutional investors have recently modified their holdings of BCH. Goldman Sachs Group Inc. boosted its stake in shares of Banco De Chile by 53.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock worth $5,747,000 after buying an additional 75,924 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Banco De Chile in the 2nd quarter worth approximately $1,266,000. EverSource Wealth Advisors LLC raised its holdings in shares of Banco De Chile by 161.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after purchasing an additional 929 shares during the period. First Trust Advisors LP bought a new stake in shares of Banco De Chile in the 2nd quarter worth approximately $238,000. Finally, Flow Traders U.S. LLC bought a new stake in shares of Banco De Chile in the 2nd quarter worth approximately $323,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

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.