Banco De Chile (NYSE:BCH) Given New $44.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Banco de Chile’s price target from $45 to $44 while maintaining a “neutral” rating, implying roughly 12% upside from the reported $39.28 share price.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold” and one rates it “Sell,” resulting in a consensus “Reduce” rating and an average price target of $39.67.
• Banco de Chile reported quarterly earnings of $0.84 per share on $999.95 million in revenue, with a 31.01% net margin and 21.10% return on equity; institutional investors own 1.24% of the stock.

Banco De Chile (NYSE:BCH - Get Free Report) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $45.00 to $44.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 12.02% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Banco De Chile from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised Banco De Chile from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, September 25th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $39.67.

Banco De Chile Stock Performance

Shares of BCH stock traded down $0.14 during midday trading on Tuesday, hitting $39.28. The company had a trading volume of 42,742 shares, compared to its average volume of 363,292. Banco De Chile has a 52-week low of $29.98 and a 52-week high of $46.77. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48. The company's 50 day simple moving average is $41.39 and its 200 day simple moving average is $39.54. The stock has a market cap of $19.84 billion, a price-to-earnings ratio of 14.88 and a beta of 0.20.

Banco De Chile (NYSE:BCH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 earnings per share for the quarter. The firm had revenue of $999.95 million for the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. Research analysts anticipate that Banco De Chile will post 2.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCH. Hsbc Holdings PLC purchased a new position in shares of Banco De Chile in the 4th quarter worth about $878,000. Advisors Preferred LLC lifted its position in Banco De Chile by 278.9% during the first quarter. Advisors Preferred LLC now owns 27,706 shares of the bank's stock valued at $1,026,000 after buying an additional 20,393 shares in the last quarter. ABS Direct Equity Fund LLC purchased a new stake in Banco De Chile during the second quarter worth approximately $749,000. Quantinno Capital Management LP increased its position in shares of Banco De Chile by 30.6% in the first quarter. Quantinno Capital Management LP now owns 72,354 shares of the bank's stock worth $2,680,000 after acquiring an additional 16,932 shares in the last quarter. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Banco De Chile during the 1st quarter valued at $492,000. 1.24% of the stock is owned by hedge funds and other institutional investors.

About Banco De Chile

Banco de Chile is a Chilean financial institution headquartered in Santiago. Founded in 1893, it is one of the country's largest and longest-established banks and serves individuals, businesses, corporations, and institutional clients throughout Chile.

The bank provides a broad range of financial products and services, including consumer and commercial loans, checking and savings accounts, credit and debit cards, mortgages, cash management, foreign exchange, and investment services. It also offers corporate and investment banking, treasury services, trade finance, and capital markets activities.

Banco de Chile serves customers through a nationwide network of branches and digital banking channels.

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