Brokerages Set Banco De Chile (NYSE:BCH) PT at $40.00

Shares of Banco De Chile (NYSE:BCH) have earned an average recommendation of “Reduce” from the five analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $40.00.

Several equities analysts have recently commented on BCH shares. Zacks Research raised Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. JPMorgan Chase & Co. raised their price objective on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. The Goldman Sachs Group lowered shares of 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 target price on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, January 21st.

Banco De Chile Stock Down 6.6%

Shares of NYSE BCH opened at $35.53 on Friday. The company has a market capitalization of $17.94 billion, a P/E ratio of 12.73 and a beta of 0.20. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.59 and a quick ratio of 1.53. The company has a 50 day simple moving average of $41.50 and a 200-day simple moving average of $37.55. Banco De Chile has a 1 year low of $23.66 and a 1 year high of $46.77.

Banco De Chile (NYSE:BCH) last released its quarterly earnings data on Thursday, January 29th. The bank reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The business had revenue of $831.63 million during the quarter, compared to analyst estimates of $878.92 million. Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. On average, equities research analysts predict that Banco De Chile will post 2.31 earnings per share for the current year.

Hedge Funds Weigh In On Banco De Chile

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its holdings in Banco De Chile by 33,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after purchasing an additional 678 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Banco De Chile by 161.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after acquiring an additional 929 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Banco De Chile by 286.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock worth $66,000 after buying an additional 1,276 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 acquiring an additional 2,401 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Banco De Chile during the 4th quarter worth $100,000. 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.