Banco De Chile (NYSE:BCH) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Banco De Chile (NYSE:BCH) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $37.11 and traded as high as $38.69. Banco De Chile shares last traded at $37.3240, with a volume of 587,811 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BCH. JPMorgan Chase & Co. raised their price target on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a report on Tuesday, January 13th. UBS Group set a $48.00 price objective on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, February 6th. Zacks Research upgraded shares of Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Banco De Chile currently has a consensus rating of “Reduce” and a consensus price target of $40.00.

Banco De Chile Stock Performance

The company has a market cap of $18.85 billion, a price-to-earnings ratio of 13.38 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 has a fifty day simple moving average of $41.81 and a 200 day simple moving average of $37.11.

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

Institutional Investors Weigh In On Banco De Chile

A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in shares of Banco De Chile by 33,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after purchasing an additional 678 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Banco De Chile by 161.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after purchasing an additional 929 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Banco De Chile by 286.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock worth $66,000 after purchasing an additional 1,276 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Banco De Chile by 2,425.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after purchasing an additional 2,401 shares during the period. Finally, Inspire Investing LLC bought a new stake in Banco De Chile during the 4th quarter valued at approximately $100,000. 1.24% of the stock is currently owned by institutional investors.

About Banco De Chile

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.