Wall Street brokers predict that Banco de Chile (NYSE:BCH – Get a rating) will report earnings per share (EPS) of $0.63 for the current fiscal quarter, Zacks reports. Two analysts released earnings estimates for Banco de Chile, with estimates ranging from $0.50 to $0.70. Banco de Chile reported earnings per share of $0.44 in the same quarter last year, suggesting a positive year-over-year growth rate of 43.2%. The company is due to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect Banco de Chile to report annual earnings of $2.31 per share for the current fiscal year, with EPS estimates ranging from $2.22 to $2.40. For the next fiscal year, analysts expect the company to post earnings of $2.22 per share, with EPS estimates ranging from $2.13 to $2.31. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts who follow Banco de Chile.
Bank of Chile (NYSE: BCH – Get a rating) last released its quarterly results on Friday, April 29. The bank reported earnings per share (EPS) of $0.69 for the quarter, beating analyst consensus estimates of $0.60 by $0.09. The company posted revenue of $560.31 million for the quarter, versus a consensus estimate of $742.05 million. Banco de Chile had a return on equity of 15.65% and a net margin of 24.90%.
A number of brokerages weighed in on BCH. Credit Suisse Group upgraded Banco de Chile from a “neutral” rating to an “outperforming” rating and raised its price target for the company from $18.00 to $25.00 in a Wednesday, March 2 report. Zacks Investment Research upgraded Banco de Chile from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a Tuesday, April 12 research note. Scotiabank upgraded Banco de Chile from an “sector performance” rating to an “outperform” rating in a Wednesday, April 13 research note. StockNews.com began covering Banco de Chile in a research note on Thursday, March 31. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. downgraded Banco de Chile from an “overweight” rating to a “neutral” rating and set a price target of $23.00 for the company. in a research note on Thursday, February 17. Two analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, the company currently has a consensus buy rating and a consensus price target of $24.20.
Large investors have recently changed their positions in the stock. 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 acquiring an additional 7,462 shares in the last quarter. Itau Unibanco Holding SA bought a new position in shares of Banco de Chile in the 4th quarter for a value of approximately $7,571,000. Banco BTG Pactual SA bought a new position in shares of Banco de Chile in Q1 worth approximately $3,268,000. Millennium Management LLC increased its position in Banco de Chile shares by 21.8% in the third quarter. Millennium Management LLC now owns 109,020 shares of the bank worth $2,016,000 after acquiring 19,507 additional shares last quarter. Finally, State Street Corp raised its position in Banco de Chile shares by 0.9% in the 4th quarter. State Street Corp now owns 84,611 shares of the bank worth $1,329,000 after acquiring 761 more shares last quarter. 0.89% of the shares are held by institutional investors and hedge funds.
BCH shares rose $0.11 during Friday trading hours, hitting $20.45. The company’s stock had a trading volume of 171,355 shares, compared to an average volume of 122,477. The company’s 50-day simple moving average is $20.70 and its 200-day simple moving average is $19.75. The company has a market capitalization of $10.33 billion, a price-earnings ratio of 11.83, a PEG ratio of 0.85 and a beta of 0.31. Banco de Chile has a fifty-two week low of $15.60 and a fifty-two 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.
About Banco de Chile (Get a rating)
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through Retail, Wholesale and Treasury 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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