Banco De Chile (NYSE:BCH) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Banco De Chile (NYSE:BCH) released its quarterly earnings data on Friday. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.19, Zacks reports. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. The business had revenue of $778.47 million for the quarter, compared to analyst estimates of $778.06 million.

Banco De Chile Stock Performance

Shares of NYSE:BCH traded down $1.58 on Friday, hitting $36.69. The company had a trading volume of 586,611 shares, compared to its average volume of 406,639. The stock has a 50 day moving average price of $40.42 and a 200 day moving average price of $40.03. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.94. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 13.90 and a beta of 0.20. Banco De Chile has a 1-year low of $33.60 and a 1-year high of $46.77.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Banco De Chile from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Weiss Ratings downgraded Banco De Chile from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, Wall Street Zen cut Banco De Chile from a “hold” rating to a “sell” rating in a research note on Saturday. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $39.67.

About Banco De Chile

Banco de Chile is a full-service commercial bank headquartered in Santiago, Chile. Founded in 1893, it is one of the country’s longstanding financial institutions and provides banking services to individuals, businesses, corporations and institutional clients throughout Chile.

The bank offers a broad range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, foreign-exchange transactions, investment products and financial advisory services.