Banco De Chile (NYSE:BCH) Receives $40.00 Average Target Price from Analysts

Banco De Chile (NYSE:BCH) has received a consensus rating of “Reduce” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $40.00.

BCH has been the subject of several analyst reports. UBS Group set a $48.00 target price on Banco De Chile and gave the stock a “neutral” rating in a research report on Friday. Wall Street Zen cut Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Zacks Research lowered shares of Banco De Chile from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. The Goldman Sachs Group downgraded shares of Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, January 16th.

Banco De Chile Stock Down 0.6%

BCH opened at $44.98 on Friday. The company has a market capitalization of $22.72 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.28 and a beta of 0.20. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.59 and a quick ratio of 1.53. The firm’s fifty day moving average price is $40.47 and its two-hundred day moving average price is $34.82. Banco De Chile has a fifty-two week low of $23.66 and a fifty-two week high of $46.77.

Banco De Chile (NYSE:BCH) last issued its earnings results on Tuesday, February 3rd. The bank reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). The business had revenue of $826.07 million for the quarter, compared to analyst estimates of $878.92 million. Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. On average, analysts anticipate that Banco De Chile will post 2.31 EPS for the current year.

Hedge Funds Weigh In On Banco De Chile

A number of institutional investors and hedge funds have recently bought and sold shares of BCH. TT International Asset Management LTD bought a new position in shares of Banco De Chile in the third quarter valued at about $26,962,000. UBS Group AG raised its stake in shares of Banco De Chile by 110.0% in the fourth quarter. UBS Group AG now owns 494,082 shares of the bank’s stock worth $18,775,000 after acquiring an additional 258,844 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Banco De Chile by 199.1% during the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after purchasing an additional 234,619 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Banco De Chile by 177.7% during the third quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock valued at $9,032,000 after purchasing an additional 190,741 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Banco De Chile by 128.4% in the second quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock valued at $6,021,000 after purchasing an additional 111,253 shares in the last quarter. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco De Chile Company Profile

Banco de Chile (NYSE: BCH) is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country’s oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank’s core businesses include retail banking, commercial and corporate banking, and investment banking.