Banco de Chile (NYSE:BCH) Issues Earnings Results

Banco de Chile (NYSE:BCH) released its quarterly earnings data on Monday. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.08, Morningstar.com reports. Banco de Chile had a return on equity of 17.11% and a net margin of 23.67%. The business had revenue of $704.80 million for the quarter, compared to the consensus estimate of $717.93 million.

NYSE:BCH traded down $0.24 during trading hours on Thursday, reaching $28.74. The stock had a trading volume of 32,727 shares, compared to its average volume of 37,534. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.39 and a quick ratio of 1.39. Banco de Chile has a 52 week low of $27.04 and a 52 week high of $32.83. The company’s 50 day moving average price is $29.24. The company has a market capitalization of $14.78 billion, a PE ratio of 16.91, a PEG ratio of 1.17 and a beta of 0.42.

A number of research firms have issued reports on BCH. Scotiabank raised Banco de Chile from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 25th. Zacks Investment Research raised Banco de Chile from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Banco de Chile has a consensus rating of “Hold” and an average price target of $55.50.

A number of large investors have recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. lifted its holdings in shares of Banco de Chile by 6.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 10,869 shares of the bank’s stock valued at $323,000 after purchasing an additional 626 shares during the last quarter. Quadrant Capital Group LLC increased its position in Banco de Chile by 102.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,842 shares of the bank’s stock valued at $290,000 after acquiring an additional 4,973 shares during the period. Crossmark Global Holdings Inc. increased its position in Banco de Chile by 8.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 27,302 shares of the bank’s stock valued at $811,000 after acquiring an additional 2,185 shares during the period. Nordea Investment Management AB acquired a new position in Banco de Chile in the 1st quarter valued at about $447,768,000. Finally, Marshall Wace North America L.P. acquired a new position in Banco de Chile in the 1st quarter valued at about $85,000. 2.09% of the stock is currently owned by institutional investors and hedge funds.

Banco de Chile Company Profile

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.

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Earnings History for Banco de Chile (NYSE:BCH)

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