Banco De Chile (NYSE:BCH) Shares Cross Above 200 Day Moving Average – Time to Sell?

Banco De Chile (NYSE:BCH) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $39.51 and traded as high as $42.14. Banco De Chile shares last traded at $41.5260, with a volume of 190,431 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Banco De Chile from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. JPMorgan Chase & Co. upped 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, August 7th. Finally, Wall Street Zen raised Banco De Chile from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $40.00.

Banco De Chile Trading Down 0.3%

The firm has a market cap of $20.27 billion, a P/E ratio of 15.20 and a beta of 0.23. 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 company’s fifty day moving average price is $41.53 and its two-hundred day moving average price is $39.51.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share (EPS) for the quarter. The firm had revenue of $999.95 million during the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. As a group, sell-side analysts predict that Banco De Chile will post 2.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. ABS Direct Equity Fund LLC acquired a new position in shares of Banco De Chile in the 2nd quarter worth approximately $749,000. Nykredit A S acquired a new stake in Banco De Chile during the 2nd quarter valued at $430,000. Public Employees Retirement System of Ohio bought a new position in Banco De Chile in the 2nd quarter valued at $313,000. Hennion & Walsh Asset Management Inc. raised its position in Banco De Chile by 17.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 69,482 shares of the bank’s stock valued at $2,763,000 after purchasing an additional 10,157 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Banco De Chile by 94.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,944 shares of the bank’s stock worth $109,000 after purchasing an additional 1,433 shares in the last quarter. Institutional investors own 1.24% of the company’s stock.

About Banco De Chile

Banco de Chile is a Chilean financial institution headquartered in Santiago. Founded in 1893, it is one of the country’s largest and longest-established banks and serves individuals, businesses, corporations, and institutional clients throughout Chile.

The bank provides a broad range of financial products and services, including consumer and commercial loans, checking and savings accounts, credit and debit cards, mortgages, cash management, foreign exchange, and investment services. It also offers corporate and investment banking, treasury services, trade finance, and capital markets activities.

Banco de Chile serves customers through a nationwide network of branches and digital banking channels.