Banco de Chile (NYSE:BCH) Sets New 1-Year High After Dividend Announcement

Shares of Banco de Chile (NYSE:BCH) hit a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $27.22 and last traded at $27.17, with a volume of 239333 shares traded. The stock had previously closed at $26.53.

The newly announced dividend which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 21st will be issued a dividend of $2.1037 per share. The ex-dividend date of this dividend is Friday, March 21st. Banco de Chile’s dividend payout ratio is 49.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BCH. JPMorgan Chase & Co. upped their price objective on shares of Banco de Chile from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. StockNews.com lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th.

Banco de Chile Price Performance

The company has a market capitalization of $13.77 billion, a PE ratio of 10.86, a P/E/G ratio of 6.08 and a beta of 0.44. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.52 and a current ratio of 1.51. The stock has a 50 day moving average price of $24.71 and a two-hundred day moving average price of $24.27.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Banco de Chile by 14.5% during the 4th quarter. Signaturefd LLC now owns 3,903 shares of the bank’s stock valued at $89,000 after purchasing an additional 493 shares during the period. R Squared Ltd acquired a new position in shares of Banco de Chile during the fourth quarter worth approximately $94,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Banco de Chile by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock worth $100,000 after acquiring an additional 1,291 shares during the last quarter. Atlas Capital Advisors Inc. increased its position in Banco de Chile by 30.7% during the fourth quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank’s stock worth $143,000 after acquiring an additional 1,487 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in Banco de Chile during the 4th quarter valued at $151,000. Institutional investors own 1.24% of the company’s stock.

Banco de Chile Company Profile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.