Ethic Inc. Buys 4,734 Shares of Banco De Chile $BCH

Ethic Inc. lifted its holdings in shares of Banco De Chile (NYSE:BCH) by 11.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,491 shares of the bank’s stock after acquiring an additional 4,734 shares during the quarter. Ethic Inc.’s holdings in Banco De Chile were worth $1,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group lifted its stake in Banco De Chile by 823.3% in the 1st quarter. Brooklyn Investment Group now owns 1,385 shares of the bank’s stock worth $37,000 after purchasing an additional 1,235 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Banco De Chile by 1,355.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank’s stock valued at $98,000 after purchasing an additional 3,009 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Banco De Chile by 7.5% during the second quarter. Parallel Advisors LLC now owns 6,141 shares of the bank’s stock worth $187,000 after purchasing an additional 428 shares during the period. Ballentine Partners LLC purchased a new stake in shares of Banco De Chile during the second quarter worth about $223,000. Finally, Cerity Partners LLC purchased a new stake in shares of Banco De Chile during the first quarter worth about $239,000. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

Banco De Chile Price Performance

Banco De Chile stock opened at $33.63 on Friday. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.49 and a beta of 0.26. The firm’s fifty day moving average is $30.30 and its 200 day moving average is $29.69. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.09. Banco De Chile has a 52-week low of $22.06 and a 52-week high of $33.86.

Banco De Chile (NYSE:BCH) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Banco De Chile had a net margin of 32.62% and a return on equity of 23.00%. The company had revenue of $801.11 million for the quarter, compared to the consensus estimate of $820.11 million. Sell-side analysts forecast that Banco De Chile will post 2.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BCH. Wall Street Zen raised Banco De Chile from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Banco De Chile from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Banco De Chile currently has a consensus rating of “Hold” and an average price target of $33.00.

About Banco De Chile

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.