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

Banco De Chile (NYSE:BCH) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.68 and traded as high as $41.14. Banco De Chile shares last traded at $40.3150, with a volume of 453,251 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BCH shares. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a report on Wednesday, January 21st. 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 Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, UBS Group set a $48.00 price target on Banco De Chile and gave the stock a “neutral” rating in a research report on Friday, February 6th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Banco De Chile has a consensus rating of “Reduce” and an average target price of $40.00.

Banco De Chile Stock Performance

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 $41.96 and a two-hundred day moving average of $36.68.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in Banco De Chile by 33,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock worth $26,000 after buying an additional 678 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 929 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Banco De Chile by 286.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,276 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of 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 valued at $76,000 after acquiring an additional 2,401 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in shares of Banco De Chile during the fourth quarter valued at $100,000. Institutional investors and hedge funds 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.