Zacks Investment Research upgraded shares of Banco de Chile (NYSE:BCH) from a sell rating to a hold rating in a report released on Thursday.
According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “
Several other equities analysts have also recently commented on BCH. HSBC started coverage on shares of Banco de Chile in a research note on Monday, August 20th. They set a reduce rating for the company. ValuEngine cut shares of Banco de Chile from a hold rating to a sell rating in a research note on Thursday, September 6th. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company presently has a consensus rating of Sell and a consensus target price of $32.67.
A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in Banco de Chile by 4.0% in the 3rd quarter. Renaissance Technologies LLC now owns 664,671 shares of the bank’s stock worth $60,518,000 after buying an additional 25,777 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Banco de Chile by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 179,120 shares of the bank’s stock worth $16,302,000 after buying an additional 1,944 shares in the last quarter. AQR Capital Management LLC grew its stake in Banco de Chile by 14.0% in the 3rd quarter. AQR Capital Management LLC now owns 155,985 shares of the bank’s stock worth $14,202,000 after buying an additional 19,197 shares in the last quarter. BlackRock Inc. grew its stake in Banco de Chile by 65.3% in the 3rd quarter. BlackRock Inc. now owns 79,236 shares of the bank’s stock worth $7,216,000 after buying an additional 31,298 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Banco de Chile by 13.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,851 shares of the bank’s stock worth $4,542,000 after buying an additional 5,786 shares in the last quarter. 1.31% of the stock is owned by institutional investors and hedge funds.
About Banco de Chile
Banco de Chile provides various banking products and services to individuals, corporate clients, large companies, and small and medium-sized companies in Chile and internationally. The company operates through four segments: Retail, Wholesale, Treasury, and Subsidiaries. It offers checking accounts; personal, car, and mortgage loans; credit cards; credit lines; and investment products, such as fixed-term, automatic renewal, and tax benefit deposits, as well as stocks, portfolio management, voluntary retirement savings/mutual funds, foreign currency, and fixed income investment products.
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