Separately, Credit Suisse Group lowered its price target on Banco de Chile shares to $21.00 in a Monday, August 22 research report. Four investment analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, Banco de Chile currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.
Banco de Chile trades up 1.7%
NYSE: BCH traded at $0.31 during Friday trading hours, hitting $18.05. The stock recorded a trading volume of 221,027 shares, compared to an average volume of 152,319 shares. The company has a market capitalization of $9.12 billion, a price/earnings ratio of 5.34, a P/E/G ratio of 0.80 and a beta of 0.38. Banco de Chile has a one-year low of $15.60 and a one-year high of $22.74. The company has a debt ratio of 3.17, a quick ratio of 1.46 and a current ratio of 1.46. The company’s 50-day moving average is $18.62 and its 200-day moving average is $19.20.
Bank of Chile (NYSE: BCH – Get a rating) last announced its quarterly results on Friday, July 29. The bank reported earnings per share of $1.03 for the quarter, beating consensus analyst estimates of $0.63 by $0.40. The company posted revenue of $580.90 million for the quarter, versus analyst estimates of $792.40 million. Banco de Chile had a net margin of 49.07% and a return on equity of 32.11%. Sell-side analysts expect Banco de Chile to post EPS of 2.84 for the current fiscal year.
Institutional investors weigh on Banco de Chile
A number of institutional investors have recently increased or reduced their stake in BCH. TCW Group Inc. purchased a new stake in shares of Banco de Chile in Q1 worth approximately $290,000. Whittier Trust Co. acquired a new stake in Banco de Chile during Q1 valued at approximately $230,000. Envestnet Asset Management Inc. increased its position in Banco de Chile by 107.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,082 shares of the bank valued at $452,000 after purchasing an additional 10,935 shares during the period. Crossmark Global Holdings Inc. increased its stake in Banco de Chile by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank worth $522,000 after buying 612 additional shares in the last quarter. Finally, Banco BTG Pactual SA acquired a new position in Banco de Chile shares in Q1 worth approximately $3,268,000. 1.10% of the shares are held by institutional investors.
About Banco de Chile
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.
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