Banco De Chile (NYSE:BCH) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Banco De Chile (NYSE:BCH)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.45 and traded as high as $41.76. Banco De Chile shares last traded at $41.53, with a volume of 271,715 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Banco De Chile from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. UBS Group set a $39.00 price objective on shares of Banco De Chile and gave the stock a “neutral” rating in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Banco De Chile from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $40.00.

Banco De Chile Price Performance

The stock has a fifty day moving average of $40.82 and a 200-day moving average of $39.43. The firm has a market capitalization of $21.63 billion, a P/E ratio of 16.22 and a beta of 0.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.94.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Banco De Chile by 33,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after buying an additional 678 shares during the period. EverSource Wealth Advisors LLC grew its holdings in 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 acquiring an additional 929 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in shares of Banco De Chile during the 1st quarter valued at $53,000. Smartleaf Asset Management LLC raised its position in shares of Banco De Chile by 286.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position 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 worth $76,000 after purchasing an additional 2,401 shares during the last quarter. 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.