StockNews.com Lowers Banco de Chile (NYSE:BCH) to Sell

StockNews.com downgraded shares of Banco de Chile (NYSE:BCHFree Report) from a hold rating to a sell rating in a research note released on Thursday.

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

View Our Latest Report on BCH

Banco de Chile Price Performance

Shares of NYSE BCH opened at $22.63 on Thursday. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.48. Banco de Chile has a 1 year low of $19.20 and a 1 year high of $24.79. The firm has a 50-day moving average of $23.18 and a 200 day moving average of $22.81.

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

Hedge Funds Weigh In On Banco de Chile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCH. Natixis Advisors L.P. raised its stake in shares of Banco de Chile by 2.7% in the fourth quarter. Natixis Advisors L.P. now owns 19,722 shares of the bank’s stock worth $455,000 after purchasing an additional 517 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Banco de Chile by 5.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,488 shares of the bank’s stock worth $242,000 after buying an additional 541 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Banco de Chile by 3.2% during the 3rd quarter. Lazard Asset Management LLC now owns 29,450 shares of the bank’s stock valued at $594,000 after acquiring an additional 926 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Banco de Chile by 163.9% during the 4th quarter. Parallel Advisors LLC now owns 1,581 shares of the bank’s stock valued at $36,000 after acquiring an additional 982 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Banco de Chile by 569.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,279 shares of the bank’s stock worth $28,000 after acquiring an additional 1,088 shares during the period. 1.24% of the stock is owned by institutional investors.

About Banco de Chile

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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.

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