Banco De Chile (NYSE:BCH) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Banco De Chile (NYSE:BCH) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $39.37 and traded as high as $40.78. Banco De Chile shares last traded at $40.1920, with a volume of 276,332 shares.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group set a $39.00 target price on Banco De Chile and gave the company a “neutral” rating in a research note on Friday, May 22nd. Weiss Ratings lowered Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Zacks Research raised Banco De Chile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Banco De Chile has an average rating of “Reduce” and a consensus price target of $37.00.

Banco De Chile Stock Performance

The stock has a market cap of $20.30 billion, a P/E ratio of 16.61 and a beta of 0.23. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.49 and a quick ratio of 1.49. The company has a fifty day moving average of $38.08 and a 200 day moving average of $39.37.

Banco De Chile (NYSE:BCH) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.57 earnings per share (EPS) for the quarter. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%.The firm had revenue of $321.27 million during the quarter. On average, equities analysts predict that Banco De Chile will post 2.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BCH. Pekin Hardy Strauss Inc. grew its holdings in Banco De Chile by 440.3% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 51,325 shares of the bank’s stock worth $1,950,000 after acquiring an additional 41,825 shares during the period. UBS Group AG raised its position in 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 in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Banco De Chile by 158.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 41,874 shares of the bank’s stock valued at $1,591,000 after acquiring an additional 25,643 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Banco De Chile during the 4th quarter valued at about $746,000. Finally, Ethic Inc. grew its stake in shares of Banco De Chile by 33.6% in the 4th quarter. Ethic Inc. now owns 63,284 shares of the bank’s stock worth $2,405,000 after purchasing an additional 15,911 shares during the last quarter. Institutional investors own 1.24% of the company’s stock.

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.