Banco De Chile (NYSE:BCH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Banco De Chile (NYSE:BCH) from a sell rating to a hold rating in a research report released on Saturday.

A number of other research firms have also weighed in on BCH. UBS Group set a $39.00 price objective on shares of Banco De Chile and gave the company a “neutral” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Banco De Chile from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $40.00.

Banco De Chile Price Performance

Shares of NYSE:BCH opened at $41.46 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $20.94 billion, a PE ratio of 15.70 and a beta of 0.24. Banco De Chile has a twelve month low of $28.26 and a twelve month high of $46.77. The company has a 50-day moving average price of $39.94 and a two-hundred day moving average price of $39.81.

Banco De Chile (NYSE:BCH) last posted its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share (EPS) for the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. The company had revenue of $999.95 million for the quarter. Equities analysts forecast that Banco De Chile will post 2.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. increased 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 period. UBS Group AG raised its holdings in shares of Banco De Chile by 110.0% in the 4th quarter. UBS Group AG now owns 494,082 shares of the bank’s stock valued at $18,775,000 after acquiring an additional 258,844 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Banco De Chile by 199.1% during the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after purchasing an additional 234,619 shares in the last quarter. Marshall Wace LLP increased its position in shares of Banco De Chile by 177.7% in the third quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock worth $9,032,000 after purchasing an additional 190,741 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Banco De Chile by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after purchasing an additional 75,924 shares in 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.