JPMorgan Chase & Co. Cuts Banco De Chile (NYSE:BCH) Price Target to $44.00

Banco De Chile (NYSE:BCH – Get Free Report) had its target price lowered by research analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.02% from the company’s previous close.

Several other brokerages have also recently commented on BCH. Wall Street Zen raised shares of Banco De Chile from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised Banco De Chile from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $39.67.

Get Our Latest Research Report on Banco De Chile

Banco De Chile Stock Down 0.4%

BCH traded down $0.14 on Tuesday, reaching $39.28. The company’s stock had a trading volume of 42,742 shares, compared to its average volume of 363,292. Banco De Chile has a 1 year low of $29.98 and a 1 year high of $46.77. The business’s 50 day moving average is $41.39 and its 200 day moving average is $39.54. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market cap of $19.84 billion, a price-to-earnings ratio of 14.88 and a beta of 0.20.

Banco De Chile (NYSE:BCH – Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share for the quarter. The business 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, research analysts forecast that Banco De Chile will post 2.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Banco De Chile

A number of hedge funds have recently added to or reduced their stakes in BCH. ABS Direct Equity Fund LLC acquired a new position in shares of Banco De Chile during the second quarter valued at $749,000. Nykredit A S acquired a new stake in shares of Banco De Chile in the 2nd quarter worth about $430,000. Public Employees Retirement System of Ohio bought a new stake in Banco De Chile in the 2nd quarter valued at about $313,000. Hennion & Walsh Asset Management Inc. boosted its stake in Banco De Chile by 17.1% during 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 period. Finally, EverSource Wealth Advisors LLC grew its position in Banco De Chile by 94.8% in the 1st 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 during the last quarter. 1.24% of the stock is currently owned by institutional investors.

Banco De Chile Company Profile

(Get Free Report)

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.

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