Banco de Chile Stock (NYSE: BCH – Get a rating) received an average “moderate buy” recommendation from the eight research companies that currently cover the stock, reports Marketbeat.com. Four analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the past year is $23.67.
BCH has been the subject of a number of recent analyst reports. Scotiabank upgraded shares of Banco de Chile from an “sector performance” rating to an “outperform” rating in a Wednesday, April 13 report. StockNews.com downgraded shares of Banco de Chile from a “buy” rating to a “hold” rating in a report on Wednesday, July 20. Itaú Unibanco downgraded Banco de Chile shares from an “outperform” rating to a “market perform” rating and set a price target of $22.00 for the company. in a report on Tuesday, June 7. Grupo Santander upgraded shares of Banco de Chile from a “neutral” rating to an “outperforming” rating and set a price target of $25.00 for the company in a Thursday, May 19 report. Finally, Banco Santander raised shares of Banco de Chile to a “buy” rating and set a price target of $25.00 for the company in a Friday, May 20 report.
Institutional negotiation of Banco de Chile
A number of hedge funds and other institutional investors have recently changed their holdings in the company. Dimensional Fund Advisors LP increased its position in Banco de Chile shares by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 597,813 shares of the bank worth $12,795,000 after purchasing an additional 7,462 shares during the period. Itau Unibanco Holding SA purchased a new stake in Banco de Chile during Q4, valued at approximately $7,571,000. Banco BTG Pactual SA acquired a new stake in Banco de Chile during the 1st quarter for a value of approximately $3,268,000. Veriti Management LLC increased its position in Banco de Chile by 13.7% in the 1st quarter. Veriti Management LLC now owns 69,365 shares of the bank valued at $1,487,000 after purchasing an additional 8,346 shares in the last quarter. Finally, Investors Research Corp increased its position in Banco de Chile by 18.7% in the 1st quarter. Investors Research Corp now owns 48,025 shares of the bank valued at $1,029,000 after buying an additional 7,550 shares in the last quarter. 0.89% of the shares are held by hedge funds and other institutional investors.
Banco de Chile trades up 0.7%
NYSE: BCH opened at $19.08 on Tuesday. The company has a fifty-day moving average of $18.97 and a 200-day moving average of $20.05. Banco de Chile has a 52-week low of $15.60 and a 52-week high of $22.74. The company has a quick ratio of 1.53, a current ratio of 1.53 and a leverage ratio of 3.12. The company has a market capitalization of $9.64 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.81 and a beta of 0.37.
Bank of Chile (NYSE: BCH – Get a rating) last released its quarterly results on Friday, April 29. The bank reported EPS of $0.69 for the quarter, beating consensus analyst estimates of $0.60 by $0.09. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. The company posted revenue of $560.31 million in the quarter, versus analyst estimates of $742.05 million. On average, research analysts predict that Banco de Chile will post earnings per share of 2.31 for the current year.
Banco de Chile Company Profile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Banco de Chile right now?
Before you consider Banco de Chile, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Banco de Chile was not on the list.
While Banco de Chile currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here