Advisors Preferred LLC Increases Stock Position in Banco De Chile $BCH

Advisors Preferred LLC grew its stake in Banco De Chile (NYSE:BCH) by 278.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 27,706 shares of the bank’s stock after acquiring an additional 20,393 shares during the period. Advisors Preferred LLC’s holdings in Banco De Chile were worth $1,026,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in shares of Banco De Chile by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock worth $5,747,000 after buying an additional 75,924 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Banco De Chile in the 2nd quarter valued at about $1,266,000. EverSource Wealth Advisors LLC grew its position 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 acquiring an additional 929 shares in the last quarter. First Trust Advisors LP purchased a new stake in Banco De Chile during the second quarter worth about $238,000. Finally, Flow Traders U.S. LLC purchased a new stake in Banco De Chile during the second quarter worth about $323,000. 1.24% of the stock is currently owned by institutional investors and hedge funds.

Banco De Chile Trading Up 2.6%

NYSE:BCH opened at $40.88 on Wednesday. Banco De Chile has a 1 year low of $27.08 and a 1 year high of $46.77. The stock has a market cap of $20.65 billion, a P/E ratio of 16.89 and a beta of 0.23. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50-day simple moving average of $38.40 and a 200-day simple moving average of $39.60.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BCH shares. Weiss Ratings downgraded shares of Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. UBS Group set a $39.00 price target on shares of Banco De Chile and gave the company a “neutral” rating in a research report on Friday, May 22nd. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $37.00.

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.