Banco de Chile (NYSE:BCH) Sees Strong Trading Volume – Still a Buy?

Shares of Banco de Chile (NYSE:BCH) saw strong trading volume on Monday . 126,212 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 198,442 shares.The stock last traded at $23.69 and had previously closed at $23.53.

Banco de Chile Stock Performance

The stock has a market capitalization of $11.89 billion, a PE ratio of 8.43 and a beta of 0.44. The business has a 50 day moving average price of $23.61 and a 200 day moving average price of $23.89. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.52 and a quick ratio of 1.52.

Banco de Chile (NYSE:BCH) last released its quarterly earnings data on Tuesday, October 29th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.03). The business had revenue of $980.10 million for the quarter, compared to analysts’ expectations of $796.96 million. Banco de Chile had a net margin of 30.00% and a return on equity of 22.69%. As a group, equities research analysts expect that Banco de Chile will post 2.5 earnings per share for the current year.

Institutional Investors Weigh In On Banco de Chile

Institutional investors and hedge funds have recently bought and sold shares of the company. Liontrust Investment Partners LLP acquired a new position in Banco de Chile during the 2nd quarter valued at about $294,000. Walleye Capital LLC acquired a new position in Banco de Chile during the 3rd quarter valued at about $638,000. Marshall Wace LLP increased its position in Banco de Chile by 24.3% during the 2nd quarter. Marshall Wace LLP now owns 214,398 shares of the bank’s stock valued at $4,852,000 after buying an additional 41,894 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Banco de Chile during the 2nd quarter valued at about $60,462,000. Finally, Blue Trust Inc. increased its holdings in shares of Banco de Chile by 629.3% in the second quarter. Blue Trust Inc. now owns 6,564 shares of the bank’s stock valued at $146,000 after purchasing an additional 5,664 shares during the period. 1.24% of the stock is owned by institutional investors.

Banco de Chile Company Profile

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.