Banco De Chile (NYSE:BCH) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Banco De Chile (NYSE:BCH) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.41 and traded as high as $39.67. Banco De Chile shares last traded at $38.8090, with a volume of 333,117 shares changing hands.

Wall Street Analysts Forecast Growth

BCH has been the topic of a number of analyst reports. UBS Group set a $39.00 target price on shares of Banco De Chile and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Zacks Research raised 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 cut shares of Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $37.00.

Banco De Chile Trading Down 0.0%

The firm has a market capitalization of $19.60 billion, a PE ratio of 16.04 and a beta of 0.23. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.00. The business has a fifty day moving average price of $38.12 and a two-hundred day moving average price of $39.41.

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

Institutional Investors Weigh In On Banco De Chile

A number of institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Banco De Chile by 33,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock worth $26,000 after acquiring an additional 678 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Banco De Chile by 161.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after purchasing an additional 929 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Banco De Chile in the 1st quarter valued at approximately $53,000. Smartleaf Asset Management LLC raised its position in Banco De Chile by 286.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,276 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Banco De Chile by 2,425.3% in the second 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. 1.24% of the stock is currently owned by institutional investors and hedge funds.

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.