Banco de Chile (NYSE:BCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “
A number of other research analysts also recently weighed in on BCH. ValuEngine raised shares of Banco de Chile from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Deutsche Bank downgraded shares of Banco de Chile from a “hold” rating to a “sell” rating and set a $91.00 target price for the company. in a research report on Wednesday, January 24th. Bank of America downgraded shares of Banco de Chile from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 18th. Finally, Credit Suisse Group reissued a “hold” rating on shares of Banco de Chile in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. Banco de Chile presently has an average rating of “Hold” and a consensus price target of $93.25.
BCH stock opened at $101.92 on Wednesday. Banco de Chile has a 52-week low of $71.45 and a 52-week high of $106.50. The firm has a market cap of $16,940.60, a P/E ratio of 18.85, a PEG ratio of 1.08 and a beta of 0.43. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.39 and a current ratio of 1.39.
Banco de Chile (NYSE:BCH) last released its earnings results on Friday, February 2nd. The bank reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.01. Banco de Chile had a net margin of 24.77% and a return on equity of 19.47%. The firm had revenue of $705.70 million during the quarter, compared to the consensus estimate of $725.81 million. sell-side analysts anticipate that Banco de Chile will post 6.09 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dean Capital Investments Management LLC bought a new position in Banco de Chile in the 4th quarter worth approximately $379,000. Nomura Asset Management Co. Ltd. boosted its holdings in Banco de Chile by 47.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,395 shares of the bank’s stock worth $401,000 after buying an additional 1,411 shares during the period. Nordea Investment Management AB boosted its holdings in Banco de Chile by 31.7% in the 3rd quarter. Nordea Investment Management AB now owns 4,988 shares of the bank’s stock worth $455,000 after buying an additional 1,200 shares during the period. Alliancebernstein L.P. boosted its holdings in Banco de Chile by 119.2% in the 4th quarter. Alliancebernstein L.P. now owns 5,059 shares of the bank’s stock worth $488,000 after buying an additional 2,751 shares during the period. Finally, KBC Group NV bought a new position in Banco de Chile in the 4th quarter worth approximately $833,000. 1.30% of the stock is owned by institutional investors.
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About Banco de Chile
Banco de Chile is a full service financial institution, which is engaged in providing credit and non-credit products and services in Chile. The Bank offers a range of banking services to its customers, ranging from individuals to corporations. The Bank’s segments include Retail, which focuses on individuals and small and medium-sized companies, where the product offering focuses on consumer loans, commercial loans, checking accounts, credit cards, credit lines and mortgage loans; Wholesale, which focuses on corporate clients and companies, where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases; Treasury, which includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading, and Subsidiaries, which corresponds to companies and corporations controlled by the Bank.
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