Banco De Chile (NYSE:BCH) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Banco De Chile (NYSE:BCH) from a hold rating to a strong sell rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on BCH. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, Wall Street Zen lowered shares of Banco De Chile from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $36.00.

Banco De Chile Price Performance

Shares of NYSE:BCH traded up $0.24 during mid-day trading on Tuesday, reaching $45.86. The stock had a trading volume of 192,011 shares, compared to its average volume of 380,229. The business’s 50 day moving average price is $39.08 and its 200 day moving average price is $33.72. Banco De Chile has a 1 year low of $23.66 and a 1 year high of $46.77. The company has a market cap of $22.86 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.27 and a beta of 0.20. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.00.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings data on Thursday, October 30th. The bank reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.02). Banco De Chile had a return on equity of 23.25% and a net margin of 32.87%.The firm had revenue of $764.93 million for the quarter, compared to analysts’ expectations of $831.97 million. Research analysts expect that Banco De Chile will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Banco De Chile by 161.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after purchasing an additional 929 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Banco De Chile by 276.2% during the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock valued at $76,000 after buying an additional 1,845 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Banco De Chile by 2,425.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after buying an additional 2,401 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Banco De Chile by 1,355.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank’s stock valued at $98,000 after buying an additional 3,009 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Banco De Chile in the 3rd quarter worth approximately $145,000. Institutional investors own 1.24% of the company’s stock.

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.