Banco de Chile (NYSE:BCH) Share Price Passes Above 200-Day Moving Average – Here’s Why

Banco de Chile (NYSE:BCH)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.52 and traded as high as $26.54. Banco de Chile shares last traded at $26.46, with a volume of 279,141 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on BCH shares. JPMorgan Chase & Co. lifted their price objective on Banco de Chile from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 24th. StockNews.com downgraded shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th.

Banco de Chile Price Performance

The company has a market cap of $13.50 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 6.08 and a beta of 0.39. The firm has a 50 day simple moving average of $26.28 and a 200-day simple moving average of $24.53. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92.

Banco de Chile Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 21st will be paid a $2.1037 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend is Friday, March 21st. Banco de Chile’s dividend payout ratio (DPR) is presently 53.78%.

Institutional Investors Weigh In On Banco de Chile

A number of large investors have recently modified their holdings of the business. Signaturefd LLC boosted its stake in Banco de Chile by 14.5% in the 4th quarter. Signaturefd LLC now owns 3,903 shares of the bank’s stock worth $89,000 after purchasing an additional 493 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Banco de Chile during the fourth quarter worth $94,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Banco de Chile by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock valued at $100,000 after buying an additional 1,291 shares during the last quarter. Atlas Capital Advisors Inc. increased its position in shares of Banco de Chile by 30.7% in the 4th quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank’s stock valued at $143,000 after acquiring an additional 1,487 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in Banco de Chile in the 4th quarter worth $151,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

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.