Shares of Banco De Chile (NYSE:BCH – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.38 and traded as high as $41.42. Banco De Chile shares last traded at $40.80, with a volume of 83,338 shares trading hands.
Analysts Set New Price Targets
BCH has been the subject of several recent analyst reports. Weiss Ratings raised shares of Banco De Chile from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Banco De Chile from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Banco De Chile from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $40.00.
Get Our Latest Stock Report on BCH
Banco De Chile Stock Down 1.4%
Banco De Chile (NYSE:BCH – Get Free Report) last announced its earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share (EPS) for the quarter. Banco De Chile had a return on equity of 21.10% and a net margin of 31.01%.The business had revenue of $999.95 million during the quarter. Sell-side analysts expect that Banco De Chile will post 2.87 earnings per share 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 stock. Quantinno Capital Management LP increased its position in Banco De Chile by 30.6% during the 1st quarter. Quantinno Capital Management LP now owns 72,354 shares of the bank’s stock valued at $2,680,000 after purchasing an additional 16,932 shares during the period. Advisors Preferred LLC lifted its position in shares of Banco De Chile by 278.9% in the 1st quarter. Advisors Preferred LLC now owns 27,706 shares of the bank’s stock worth $1,026,000 after purchasing an additional 20,393 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Banco De Chile in the 4th quarter valued at $746,000. ABS Direct Equity Fund LLC bought a new stake in shares of Banco De Chile in the 2nd quarter valued at $749,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Banco De Chile during the fourth quarter worth $878,000. 1.24% of the stock is owned by institutional investors and hedge funds.
About Banco De Chile
Banco de Chile is a full-service financial institution headquartered in Santiago, Chile. Founded in 1893, it is one of the country’s largest and longest-established banks and serves individuals, businesses, corporations and institutional clients.
The bank provides a broad range of banking and financial services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, cash management, trade finance and foreign-exchange services.
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