Banco de Chile (BCH) Lowered to Sell at Deutsche Bank

Banco de Chile (NYSE:BCH) was downgraded by stock analysts at Deutsche Bank from a “hold” rating to a “sell” rating in a research note issued on Wednesday. They currently have a $91.00 price target on the bank’s stock. Deutsche Bank’s target price suggests a potential downside of 13.20% from the stock’s current price.

BCH has been the topic of several other research reports. Credit Suisse Group restated a “hold” rating on shares of Banco de Chile in a report on Friday, December 22nd. Bank of America downgraded Banco de Chile from a “neutral” rating to an “underperform” rating in a report on Thursday, January 18th. Zacks Investment Research downgraded Banco de Chile from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Scotiabank downgraded Banco de Chile from an “outperform” rating to a “sector perform” rating in a report on Tuesday, October 24th. Finally, ValuEngine downgraded Banco de Chile from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Banco de Chile currently has a consensus rating of “Hold” and an average target price of $89.25.

Shares of Banco de Chile (BCH) traded up $1.44 during midday trading on Wednesday, reaching $104.84. 28,378 shares of the company’s stock were exchanged, compared to its average volume of 28,881. Banco de Chile has a 52 week low of $69.48 and a 52 week high of $106.50. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 2.50. The firm has a market cap of $17,278.14, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.64 and a beta of 0.41.

Banco de Chile (NYSE:BCH) last posted its quarterly earnings data on Thursday, November 2nd. The bank reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.11). The company had revenue of $632.80 million for the quarter, compared to analyst estimates of $706.94 million. Banco de Chile had a return on equity of 18.18% and a net margin of 24.17%. sell-side analysts anticipate that Banco de Chile will post 5.63 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB increased its holdings in shares of Banco de Chile by 140.2% in the 2nd quarter. Nordea Investment Management AB now owns 3,788 shares of the bank’s stock valued at $295,000 after purchasing an additional 2,211 shares during the period. Banco BTG Pactual S.A. increased its holdings in shares of Banco de Chile by 69.0% in the 2nd quarter. Banco BTG Pactual S.A. now owns 4,900 shares of the bank’s stock valued at $382,000 after purchasing an additional 2,000 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Banco de Chile by 47.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,395 shares of the bank’s stock valued at $401,000 after purchasing an additional 1,411 shares during the period. Stifel Financial Corp increased its holdings in shares of Banco de Chile by 4.5% in the 2nd quarter. Stifel Financial Corp now owns 9,100 shares of the bank’s stock valued at $706,000 after purchasing an additional 391 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Banco de Chile in the 3rd quarter valued at about $976,000. Hedge funds and other institutional investors own 1.41% of the company’s stock.

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Banco de Chile Company Profile

Banco de Chile is a full service financial institution, which is engaged in providing credit and non-credit products and services in Chile. The Bank offers a range of banking services to its customers, ranging from individuals to corporations. The Bank’s segments include Retail, which focuses on individuals and small and medium-sized companies, where the product offering focuses on consumer loans, commercial loans, checking accounts, credit cards, credit lines and mortgage loans; Wholesale, which focuses on corporate clients and companies, where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases; Treasury, which includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading, and Subsidiaries, which corresponds to companies and corporations controlled by the Bank.

Analyst Recommendations for Banco de Chile (NYSE:BCH)

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