Banco De Chile (NYSE:BCH) Announces Quarterly Earnings Results

Key Points

• Banco de Chile exceeded quarterly expectations: The bank reported EPS of $0.84, beating the $0.65 consensus estimate, while revenue reached $988.91 million versus expectations of $973.11 million. Net margin was 29.95% and return on equity was 19.47%.
• Shares fell 2.0% to $41.42 despite the earnings beat. The stock remains above its consensus analyst target of $37.00, with analysts assigning an average “Reduce” rating.
• Institutional ownership remains limited: Several investment firms increased their positions, but hedge funds and other institutional investors collectively own just 1.24% of the company.

Banco De Chile (NYSE:BCH - Get Free Report) released its quarterly earnings data on Friday. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.65 by $0.19, FiscalAI reports. Banco De Chile had a net margin of 29.95% and a return on equity of 19.47%. The business had revenue of $988.91 million during the quarter, compared to analyst estimates of $973.11 million.

Banco De Chile Trading Down 2.0%

NYSE BCH traded down $0.83 during trading on Friday, hitting $41.42. The stock had a trading volume of 355,178 shares, compared to its average volume of 381,819. Banco De Chile has a one year low of $27.08 and a one year high of $46.77. The stock has a 50 day simple moving average of $39.44 and a 200 day simple moving average of $39.75. The stock has a market capitalization of $20.92 billion, a price-to-earnings ratio of 17.11 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.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Banco De Chile

Hedge funds and other institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC boosted its position in Banco De Chile by 3.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 18,508 shares of the bank's stock valued at $703,000 after buying an additional 651 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of 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 worth $26,000 after acquiring an additional 678 shares during the period. Natixis Advisors LLC increased its position in shares of Banco De Chile by 4.1% during the fourth quarter. Natixis Advisors LLC now owns 17,987 shares of the bank's stock worth $684,000 after acquiring an additional 710 shares during the period. Guggenheim Capital LLC raised its stake in shares of Banco De Chile by 1.2% during the fourth quarter. Guggenheim Capital LLC now owns 61,365 shares of the bank's stock valued at $2,332,000 after acquiring an additional 726 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Banco De Chile by 3.8% during the third quarter. Lazard Asset Management LLC now owns 24,515 shares of the bank's stock valued at $743,000 after acquiring an additional 906 shares in the last quarter. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

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.

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