Banco De Chile (NYSE:BCH) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Banco De Chile (NYSE:BCH) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $35.81 and traded as high as $43.70. Banco De Chile shares last traded at $42.5010, with a volume of 316,093 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Zacks Research downgraded Banco De Chile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. UBS Group set a $48.00 price target on shares of Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Banco De Chile from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Finally, 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 report on Tuesday, January 13th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $40.00.

Banco De Chile Price Performance

The stock’s fifty day moving average price is $41.43 and its two-hundred day moving average price is $35.81. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 2.09.

Banco De Chile (NYSE:BCH) last released 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 business had revenue of $826.07 million for 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%. Equities research analysts expect that Banco De Chile will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On Banco De Chile

Several institutional investors have recently bought and sold shares of the stock. TT International Asset Management LTD bought a new position in Banco De Chile during the 3rd quarter worth approximately $26,962,000. Itau Unibanco Holding S.A. grew its holdings in shares of Banco De Chile by 29.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 835,782 shares of the bank’s stock worth $31,755,000 after purchasing an additional 190,567 shares during the last quarter. UBS Group AG grew its holdings in shares of Banco De Chile by 110.0% in the fourth quarter. UBS Group AG now owns 494,082 shares of the bank’s stock worth $18,775,000 after purchasing an additional 258,844 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Banco De Chile by 16.4% in the second quarter. Bessemer Group Inc. now owns 467,468 shares of the bank’s stock worth $14,220,000 after buying an additional 65,708 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in Banco De Chile by 199.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock valued at $10,680,000 after buying an additional 234,619 shares during the last quarter. 1.24% of the stock is currently owned by hedge funds and other 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.