Banco de Chile (NYSE:BCH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Banco de Chile (NYSE:BCH) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Separately, JPMorgan Chase & Co. raised their target price on shares of Banco de Chile from $20.00 to $21.00 and gave the company a neutral rating in a research report on Tuesday, April 16th.

Banco de Chile Price Performance

Shares of Banco de Chile stock opened at $22.63 on Friday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.48 and a current ratio of 1.48. The stock’s 50-day moving average is $23.27 and its 200-day moving average is $22.81. Banco de Chile has a one year low of $19.20 and a one year high of $24.79.

Banco de Chile (NYSE:BCH) last announced its earnings results on Tuesday, April 30th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Banco de Chile had a return on equity of 23.65% and a net margin of 29.41%. The business had revenue of $824.83 million for the quarter, compared to analyst estimates of $818.94 million. Research analysts anticipate that Banco de Chile will post 2.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in Banco de Chile by 30.4% during the 3rd quarter. FMR LLC now owns 418,556 shares of the bank’s stock valued at $8,455,000 after purchasing an additional 97,601 shares during the last quarter. Wellington Management Group LLP grew its stake in Banco de Chile by 143.6% in the 4th quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock valued at $6,479,000 after buying an additional 165,467 shares during the last quarter. Bessemer Group Inc. bought a new position in Banco de Chile in the 1st quarter valued at about $6,189,000. Alberta Investment Management Corp lifted its position in Banco de Chile by 215.2% during the fourth quarter. Alberta Investment Management Corp now owns 146,633 shares of the bank’s stock worth $3,384,000 after acquiring an additional 100,108 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Banco de Chile by 17.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,367 shares of the bank’s stock worth $2,614,000 after acquiring an additional 17,241 shares during the period. 1.24% of the stock is currently owned by institutional investors.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.