Banco de Chile (NYSE:BCH) Price Target Increased to $21.00 by Analysts at JPMorgan Chase & Co.

Banco de Chile (NYSE:BCH) had its price target lifted by JPMorgan Chase & Co. from $20.00 to $21.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Separately, HSBC cut Banco de Chile from a buy rating to a hold rating in a research report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $22.00.

Banco de Chile Price Performance

Shares of NYSE:BCH opened at $21.56 on Tuesday. Banco de Chile has a fifty-two week low of $19.20 and a fifty-two week high of $24.10. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.56 and a quick ratio of 1.59. The stock has a market capitalization of $11.25 billion, a P/E ratio of 7.19 and a beta of 0.40. The business has a 50-day moving average of $22.66 and a two-hundred day moving average of $21.99.

Banco de Chile (NYSE:BCH) last posted its quarterly earnings data on Monday, January 29th. The bank reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.15. Banco de Chile had a return on equity of 25.45% and a net margin of 28.62%. The business had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $872.49 million. On average, equities research analysts predict that Banco de Chile will post 2.13 EPS for the current fiscal year.

Banco de Chile Dividend Announcement

The company also recently declared a Variable dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were paid a dividend of $1.09 per share. The ex-dividend date was Thursday, March 21st. This represents a yield of 4.8%. Banco de Chile’s dividend payout ratio is 41.33%.

Hedge Funds Weigh In On Banco de Chile

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCH. Wellington Management Group LLP grew its stake in shares of Banco de Chile by 143.6% in the 4th quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock valued at $6,479,000 after purchasing an additional 165,467 shares during the period. Atlas Capital Advisors LLC grew its stake in shares of Banco de Chile by 15.7% in the 4th quarter. Atlas Capital Advisors LLC now owns 17,748 shares of the bank’s stock valued at $410,000 after purchasing an additional 2,412 shares during the period. Vident Advisory LLC grew its stake in shares of Banco de Chile by 19.0% in the 4th quarter. Vident Advisory LLC now owns 39,625 shares of the bank’s stock valued at $915,000 after purchasing an additional 6,322 shares during the period. Profund Advisors LLC grew its stake in shares of Banco de Chile by 9.7% in the 4th quarter. Profund Advisors LLC now owns 11,605 shares of the bank’s stock valued at $268,000 after purchasing an additional 1,026 shares during the period. Finally, Ethic Inc. grew its stake in shares of Banco de Chile by 21.5% in the 4th quarter. Ethic Inc. now owns 30,049 shares of the bank’s stock valued at $694,000 after purchasing an additional 5,309 shares during the period. 1.24% of the stock is currently owned by institutional investors.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.