Banco De Chile (NYSE:BCH) Stock Bumped Down to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Banco de Chile from “hold” to “sell.” JPMorgan also lowered its price target to $44 and maintained a “neutral” rating, while the broader analyst consensus is “Reduce” with a $39.67 target.
• Banco de Chile shares fell 4.1% to open at $36.69, below their 50-day and 200-day moving averages. The stock has traded between $33.60 and $46.77 over the past year.
• The bank exceeded quarterly earnings expectations, reporting $0.85 in EPS versus a $0.66 estimate and $778.47 million in revenue. Institutional investors own 1.24% of the company’s stock.

Banco De Chile (NYSE:BCH - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also weighed in on BCH. JPMorgan Chase & Co. decreased their target price on Banco De Chile from $45.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 6th. Weiss Ratings downgraded Banco De Chile from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 9th. Four 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 company has a consensus rating of "Reduce" and a consensus price target of $39.67.

Banco De Chile Stock Down 4.1%

Shares of NYSE:BCH opened at $36.69 on Friday. The firm has a fifty day moving average price of $40.42 and a two-hundred day moving average price of $40.03. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 13.90 and a beta of 0.20. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48. Banco De Chile has a one year low of $33.60 and a one year high of $46.77.

Banco De Chile (NYSE:BCH - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.19. The firm had revenue of $778.47 million for the quarter, compared to analysts' expectations of $778.06 million. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. Analysts anticipate that Banco De Chile will post 2.80 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in shares of Banco De Chile by 30.6% in the 1st 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 during the last quarter. ABS Direct Equity Fund LLC bought a new position in shares of Banco De Chile during the 2nd quarter valued at $749,000. Advisors Preferred LLC grew its holdings in shares of Banco De Chile by 278.9% during the 1st quarter. Advisors Preferred LLC now owns 27,706 shares of the bank's stock valued at $1,026,000 after purchasing an additional 20,393 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Banco De Chile in the 4th quarter worth $878,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Banco De Chile in the 2nd quarter worth $313,000. Institutional investors own 1.24% of the company's stock.

Banco De Chile Company Profile

Banco de Chile is a full-service commercial bank headquartered in Santiago, Chile. Founded in 1893, it is one of the country's longstanding financial institutions and provides banking services to individuals, businesses, corporations and institutional clients throughout Chile.

The bank offers a broad range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, foreign-exchange transactions, investment products and financial advisory services.

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