Banco De Chile (NYSE:BCH) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Banco De Chile (NYSE:BCH) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.58 and traded as high as $40.82. Banco De Chile shares last traded at $39.73, with a volume of 205,077 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BCH shares. UBS Group set a $39.00 price objective on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, May 22nd. Weiss Ratings lowered shares of Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. 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, the stock has an average rating of “Reduce” and an average price target of $37.00.

Banco De Chile Stock Down 2.6%

The company has a 50 day moving average of $38.31 and a 200-day moving average of $39.58. 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 market cap of $20.07 billion, a P/E ratio of 16.42 and a beta of 0.23.

Banco De Chile (NYSE:BCH) last announced its earnings results on Tuesday, March 31st. The bank reported $0.57 earnings per share for the quarter. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%.The business had revenue of $321.27 million for the quarter. On average, equities analysts predict that Banco De Chile will post 2.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in Banco De Chile by 33,900.0% during 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. SPX Gestao de Recursos Ltda purchased a new position in Banco De Chile in the 1st quarter worth approximately $53,000. EverSource Wealth Advisors LLC increased its holdings in shares of Banco De Chile by 161.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock worth $46,000 after buying an additional 929 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Banco De Chile by 286.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock worth $66,000 after buying an additional 1,276 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 buying an additional 2,401 shares in the last quarter. 1.24% of the stock is currently owned by institutional investors.

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.