Banco de Chile (NYSE:BCH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $114.00 price objective on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.45% from the company’s previous close.
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. “
Several other research analysts also recently commented on BCH. Credit Suisse Group reissued a “hold” rating on shares of Banco de Chile in a report on Friday, December 22nd. ValuEngine downgraded shares of Banco de Chile from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Bank of America downgraded shares of Banco de Chile from a “neutral” rating to an “underperform” rating in a report on Thursday, January 18th. Finally, Deutsche Bank downgraded shares of Banco de Chile from a “hold” rating to a “sell” rating and set a $91.00 price target for the company. in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $93.25.
Shares of Banco de Chile (BCH) traded up $0.01 during trading hours on Tuesday, reaching $101.38. 83,063 shares of the company’s stock traded hands, compared to its average volume of 42,172. 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 has a 1 year low of $71.45 and a 1 year high of $106.50. The company has a market cap of $17,069.27, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.09 and a beta of 0.43.
Banco de Chile (NYSE:BCH) last announced its quarterly earnings results on Friday, February 2nd. The bank reported $1.40 EPS for the quarter, beating the Thomson Reuters’ 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 forecast that Banco de Chile will post 6.09 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in Banco de Chile by 483.6% in the fourth quarter. Millennium Management LLC now owns 18,261 shares of the bank’s stock worth $1,763,000 after purchasing an additional 15,132 shares during the last quarter. Deutsche Bank AG lifted its stake in Banco de Chile by 167.8% in the fourth quarter. Deutsche Bank AG now owns 60,991 shares of the bank’s stock worth $5,886,000 after purchasing an additional 38,212 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Banco de Chile by 1.6% in the fourth quarter. Renaissance Technologies LLC now owns 614,740 shares of the bank’s stock worth $59,341,000 after purchasing an additional 9,388 shares during the last quarter. Invictus RG bought a new stake in Banco de Chile in the fourth quarter worth $1,522,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Banco de Chile in the fourth quarter worth $3,548,000. 1.30% of the stock is owned by institutional investors and hedge funds.
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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